The National Oil Company: We plan to increase national production

[HowieC]

"the Sovereign Energy Fund project is one of the most important projects that were discussed due to its importance and objectives, which revolve around achieving justice in the distribution of revenues from oil and gas, and how"

[yota691]

Basra Oil: We plan to export 6 million barrels per day

 

Basra Oil Company headquarters.

energy Economy News - Baghdad With the high rates of crude oil export capacity through the port of Basra, the National Oil Company plans to double it from 3.2 million barrels to 6 million barrels per day in 2025. The Director-General of the Basra Oil Company, Khaled Hamza al-Shara, said in a press conference followed by "Al-Iqtisad News" that "there are ten oil-producing fields in Basra, including 6 within oil licensing contracts for major international companies, while his company manages four giant fields." Al-Shara added, "The National Oil Company has prepared two overlapping plans, the first is annual, and the second is five-year to manage the ten fields, which currently produce up to 2.9 million barrels per day," noting that "the export capacity of these fields, in addition to the Maysan and Dhi Qar fields through the ports of Basra. It reached 3.2 million barrels per day. Al-Shara revealed, “The plans of the National Company to reach 6 million barrels per day by 2025, after entering three giant pipelines with a capacity of 3 million barrels per day and a capacity of 48 inches to transport crude oil from the Rumaila and Barjisiya warehouses to the ports of Basra and Al-Amaya.” Al-Shara explained that "the five-year plan includes assigning a number of giant production projects to major international companies for the purpose of constructing plants for the production of crude oil and investing associated gas and giant strategic contracts in the fields of oil and renewable energy," recalling the contract with the French company "Total Energies, worth 27 billion dollars, To implement four projects in the field of gas and electric power within this plan. Khaled Al-Shara added, "The process of producing crude oil in the Fayha field has started with a capacity of 20 thousand barrels per day," noting "an expected increase of up to 40 thousand barrels in the coming months." He pointed out that "his company is continuing projects to increase production capacity to reach the target in the ministry's plan to produce crude to 3.2 barrels per day at the beginning of 2022, taking into account Iraq's commitment to the decisions of OPEC, which will result in its next meeting in light of the pressures of the many variables of the Corona virus and the mutant Omicron. ". And on the joint fields between the neighboring countries of Iran and Kuwait, he pointed out that “Iraq and Kuwait reached in the past period to form a high-level committee from all ministries and the National Oil Company,” explaining that “the negotiations have gone a long way and the foreign consultant has been identified to set standards and investment rights for each country according to the analysis of the information.” To issue a final decision before agreeing on the steps." As for Iran, he made it clear that "there is a negotiation to bring the views closer on the issue of investing in joint fields by agreeing on a joint committee representing the two parties to establish an agreement in the future."

Number of Views 110   Date Added 02/12/2021

[yota691]

Iraqi drilling signs a new contract to introduce modern systems into its work

•  Time: 12/05/2021 15:07:58
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•  Reading: 416 times

  

{Local: Al Furat News} The Iraqi Drilling Company signed a partnership contract with Weatherford Company to cooperate in the field of drilling and reclamation services and the introduction of modern and advanced systems.

The Director General of the Iraqi Drilling Company, Basem Abdul Karim Nasser, said that signing the contract with a solid company such as Weatherford Company contributes to raising the level of the company's performance through the introduction of modern and advanced work systems and programs, as well as an increase in opportunities to obtain future projects with the provision of accompanying services, in addition to To exchange experiences and technology in the field of oil services.

It is noteworthy that the Iraqi Drilling Company has strengthened its field activities and the successes it has achieved in terms of quality performance and the completion of projects in record times.

[yota691]

Basra Oil: Efforts to raise Majnoon field production to 800,000 barrels per day

•  Time: 12/15/2021 10:44:13
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•  Reading: 858 times

  

{Economic: Al Furat News} The Basra Oil Company announced efforts to reach the Majnoon oil field production to more than 800,000 barrels of oil per day for export purposes, in light of previous, new and future projects in the field.

The Assistant Director-General for Production and National Effort Bassem Al-Ghalbi said, "They have a plan in this regard that is being completed after holding workshops with InterOil and KBR and a unified one that was held outside the country, and a workshop will be held next week with the Undersecretary of the Ministry of Oil to discuss this plan and its needs." ".
And he indicated that these efforts "would raise production by 200 thousand barrels per day in addition to the current stock of about 450 thousand barrels of crude oil."
Al-Ghalbi added, "The plan is considered integrated and includes wells bases, drilling wells, a new isolation station, and two storage and export systems."

[yota691]

National Oil announces the presence of 16 exploration blocks in the Western Desert

•  Time: 12/16/2021 17:15:46
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•  Reading: 1,040 times

 

  

{Economic: Al Furat News} The head of the National Oil Company, Ihsan Abdul-Jabbar Ismail, announced on Thursday that there are 16 exploration blocks in the Western Desert that contribute to increasing the national gas reserves and production.

 

The ministerial statement, which {Euphrates News} received a copy of, said: “The President of the National Oil Company confirmed during his presidency of a meeting at the Oil Exploration Company, during which a technical study of the Western Desert exploration project was reviewed, the importance of accelerating exploration operations in the Western Desert to increase the national reserve and production of oil. Gas, which is one of the priorities for the implementation of projects within the plans and objectives of the ministry.
Ismail stressed, "the need to complete the technical and administrative procedures and the financial allocations required to include a development project (5) of which patches are included in the 2022 budget, due to its importance in the optimal investment of gas and meeting local needs."
He stressed "the need to invest all local capabilities and energies, in cooperation with specialized international companies, to reduce costs and risks." 
The first deputy of the National Oil Company, Hamid Younis, said that "the project is of great importance in developing Iraqi gas production capabilities and has positive returns in developing the national economy, as well as providing job opportunities for the people of the province."
Meanwhile, Director General of Oil Exploration Agency Basem Mohamed Khudair revealed “the operations of developing exploratory patches in the Western Desert, which include drilling an exploratory well after conducting seismic surveys and the process of processing and interpreting data, noting that the duration of the implementation of the surveys for the five patches that were identified to start exploration operations is four. For years, using two seismic bands as a first stage, followed by a second stage to explore five other patches and a third stage to explore the remaining six patches."
The statement continued, "The technical study presented by the committee included the identification of (16) exploratory patches in the Western Desert, which are located within vast areas, and that the foundations of the project identified the direct development of (five) areas or patches, most of which are border areas, in which seismic survey activities are targeted, namely (Al-Anz). South Rutba, Akashat, Tubal and Al Waleed).
And he stated, "The study comes in line with the policy of the Ministry and the National Oil Company in selecting patches with low depths to reduce costs and risks. During the technical presentation, expectations, challenges and needs for the implementation of the project were identified, which are included in seismic surveys, and the implementation of processing and interpretation of data resulting from the survey and drilling exploratory wells." 
The meeting was attended by the first deputy of the National Oil Company, the general managers of the Department of Reservoirs and Field Development, the Department of Petroleum Contracts and Licensing, and a number of directors of bodies and departments in the Oil Exploration Company. 

[yota691]

Reclamation of an oil well in Kirkuk

•  Time: 12/20/2021 10:22:48
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•  Reading: 871 times

  

{Economic: Al Furat News} The Ministry of Oil announced, on Monday, the completion of the reclamation of an oil well in Kirkuk, as part of the contract for the reclamation of 10 wells in the Khabbaz oil field, west of Kirkuk governorate.

The ministry said in a statement that {Euphrates News} received a copy of it, that "the technical and engineering staff in the Iraqi Drilling Company completed the reclamation of the first well (Khabbaz / 39) within the contract concluded with the North Oil Company to reclaim 10 wells in the Khabbaz oil field, west of Kirkuk Governorate," indicating "The reclamation operations included lowering the subsurface control valves (sss.v) to restart the well and protect it from sabotage and terrorist operations." 

She added, "The company used the IDC 206 drilling rig with a horsepower of 1500 HP in reclamation operations," noting that "the company will use another rig in the same field in agreement with the North Oil Company to speed up the completion of the remaining works."

[yota691]

 

The Iraqi Drilling Company completes the reclamation of an oil well in Kirkuk

 

 2021-12-20 00:16

 

Shafaq News/ The Ministry of Oil announced on Monday, the completion of the reclamation of an oil well in Kirkuk as part of the contract to reclaim 10 wells in the Khabbaz oil field, west of Kirkuk governorate.

The Director General of the Iraqi Drilling Company affiliated with the ministry, Basem Abdul Karim, said in a statement received by Shafaq News Agency, "The technical and engineering staff in the Iraqi Drilling Company completed the reclamation of the first well (Khabbaz / 39) within the contract concluded with the North Oil Company to reclaim 10 wells in the western Khabbaz oil field. Kirkuk Governorate," noting that "the reclamation operations included lowering the subsurface control valves (sss.v) to restart the well and protect it from sabotage and terrorist operations." 

Abdul Karim added; "The company used the IDC 206 drilling rig with a horsepower of 1500 HP in reclamation operations," noting that "the company will use another rig in the same field in agreement with the North Oil Company to speed up the completion of the remaining works."

[yota691]

The Iraqi Drilling Company completes the reclamation of an oil well in Kirkuk

 

energy Economy News _ Baghdad The Ministry of Oil announced, on Monday, the completion of the reclamation of an oil well in Kirkuk, as part of the contract to reclaim 10 wells in the Khabbaz oil field, west of Kirkuk governorate. The Director General of the Iraqi Drilling Company, affiliated with the ministry, Basem Abdul Karim, said in a statement received by "Al-Iqtisad News", that "the technical and engineering staff in the Iraqi Drilling Company completed the reclamation of the first well (Khabbaz / 39) within the contract concluded with the North Oil Company to reclaim 10 wells in the Khabbaz field. The oil field, west of Kirkuk Governorate," noting that "the reclamation operations included lowering the subsurface control valves (sss.v) to restart the well and protect it from sabotage and terrorist operations."  Abdul Karim added; "The company used the IDC 206 drilling rig with a horsepower of 1500 HP in reclamation operations," noting that "the company will use another rig in the same field in agreement with the North Oil Company to speed up the completion of the remaining works."

Views 66   Date Added 12/20/2021

 

[yota691]

Iraqi Oil reveals 4 investment projects with France's Total, worth 27 billion dollars

Iraqi Ministry of Oil

 January 04, 2022 01:51 PM

Riyadh - Mubasher: The Iraqi Ministry of Oil announced, today, Tuesday, the details of the projects of the French company Total in Iraq, while revealing the investment value of it.

 

A spokesman for the Ministry of Oil, Assem Jihad, said in a statement to the Iraqi News Agency "INA": "The French Total Company has entered into the development of four projects with investments estimated at 27 billion dollars, including the project to extend the marine pipeline and the project to develop the Artawi field, as well as gas investment with a capacity of 600 million dollars. A record foot in two phases and one investment project a kilo of solar energy.

And he indicated that "the first project includes laying the marine pipeline that transports sea water to the oil fields and aims to maintain production from the oil fields that need water in large quantities."

He explained that "the second project includes developing the Artawi field and increasing production, as the field's production capacity is currently estimated at 80,000 barrels."

He pointed out that "the development operations aim to increase the field's production to more than 200 thousand barrels per day."

He added that "the development of the Artawi field will be with the contribution of Total 60 percent and the National Oil Company by 40 percent, and after the oil is exported from the field, the costs will be recovered, whether for the National Oil Company or by the investing company."

He also stressed that "the development project includes building a facility and stations related to crude oil, gas investment, and so on."

[yota691]

 

Iraq calls for hydrocarbon exploration of offshore patches in the Gulf

 

 2022-01-11 05:53

 

Shafaq News/ The Iraqi National Oil Company called today, Tuesday, to expedite the implementation of the development of offshore hydrocarbon exploration blocks in the Gulf.

This came in a statement by the head of the National Oil Company and Minister of Oil Ihsan Abdul-Jabbar on the sidelines of his attendance at the workshop on studying plans for developing offshore blocks, which was organized by the Oil Exploration Company in cooperation with the Chinese company CNOC.

"It is necessary to expedite the exploration operations and conduct seismic surveys of the marine patch in the Gulf after completing all necessary procedures for maritime work with the concerned authorities," Abdul-Jabbar said in a statement received by Shafak News Agency.

He added, "It is necessary to start work procedures according to the study presented and to determine the points of exploration work in the offshore part of the patch carried out by the Chinese company (Cinoc), in addition to expediting the work of seismic surveys for the land part carried out by the Oil Exploration Company," noting that "the operations of Exploration and development of hydrocarbon patches supports the ministry’s plans to increase and sustain national production, especially that the national oil is working to intensify offshore exploration activity.

For his part, Director General of the Oil Exploration Agency, Basem Muhammad Khudair, said that "exploration operations in the offshore patch, in its marine and land parts, will be through conducting seismic surveys, after which an exploratory well will be drilled in the offshore part, and an exploratory well in the land part."

While the representative of the Chinese company Cinoc (Vincent Xie) confirmed that the agreement concluded with Iraq is an agreement for a joint study on the marine exploration patch with its marine and land parts, which is the beginning of building joint relations between the company and Iraq.

He noted that "the study that was reviewed during the workshop consists of two parts, the first marine and will be carried out by (CNOOC), and the second on land, which will be carried out by the Oil Exploration Company," stressing that "there is a joint working team from both sides to achieve the study and reach fruitful results."

In the year 2021, several meetings were held with the Chinese company to resume work on the study, and the area covers an area of 650 km2, including the land part with an area of 120 km2 and the marine part with an area of 530 km2.

[yota691]

The National Oil Company warns of a page that blackmails its name

•  Time: 01/18/2022 15:27:09
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•  Reading: 299 times

  

 

Warning against fake pages
The Iraqi National Oil Company (ENOC) warns of the existence of a fake page that impersonates the company's official identity, with unknown links aimed at extortion by advertising jobs or others, and that the company has taken legal measures against the individuals and entities behind these fake pages.

[yota691]

The National Oil Company signs a consultancy services contract with a French company

•  Time: 01/19/2022 13:53:41
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•  Reading: 429 times

  

{Economic: Al Furat News} The National Oil Company signed a contract with the French oil company Franlab to provide consultancy that contributes to the development of the oil sector.

The Minister of Oil and the head of the company, Ihsan Abdul-Jabbar, stressed in a statement received by {Euphrates News} the keenness of the ministry and the company to develop oil reservoirs and fields by taking advantage of studies, scientific research and sober consultants to come up with good results that develop the national economy. This came during his sponsorship of the signing ceremony of the consultancy services contract between the Department of Reservoirs and development of oil fields and the French company (Franlab).

Abdul-Jabbar indicated that many decisions and studies related to the oil industry require in-depth consultations carried out by companies specialized in this field. Today, a signing was signed with the French company Franlab, which will provide advice that can be used in developing the oil sector, noting that this agreement will help the Ministry of Oil. And the oil companies to take the right decisions in the development of oil reservoirs, which are in the interest and development of the national economy and the development of the oil and gas industry in the country.

And he valued the efforts of the Department of Reservoirs and Development of Oil Fields and the supporting authorities and departments in reaching this formulation of this contract at an appropriate cost, but with a very great importance for the future of the Iraqi oil sector.

For his part, the French ambassador in Baghdad, Eric Chevalier, expressed his pleasure to attend this celebration, which represents a new stage in the development of bilateral relations with Iraq in the field of oil, gas and energy, preceded by the agreement between the Iraqi Oil Ministry and the French Total.

The Director General of the Department of Reservoirs and Oil Fields Development, Muhammad Al-Aboudi, said that the contract is of great importance in the development of reservoirs and the development of oil fields and facilities, thanking the head of the National Oil Company for reaching this important agreement in the field of decision-making for the development of the oil industry.

The representative of the French Franlab company, Thierry Limo, said, “We are proud to be in Iraq today to provide full technical support to Iraq in developing the oil and gas sector. Time to reduce development costs, and we hope that this will be the beginning of a fruitful future cooperation.

[ronscarpa]

French Oil Consultancy Wins Iraq Contract

20th January 2022 in Iraq Oil & Gas News

By John Lee.

French-based petroleum consultancy Beicip Franlab has signed a deal to provide consultancy services to the Iraqi Oil Ministry's Reservoirs & Fields Development Directorate.

The Minister of Oil and President of Iraqi National Oil Company (INOC), Ihsan Abdul-Jabbar Ismail, said that Franlab will give advice that can be used to develop the oil sector, stating that the contract will help the Ministry of Oil and the oil companies to make the right decisions to develop the oil reservoirs in the interest of the national economy and the development of the oil and gas industry in the country.

The French ambassador to Baghdad, Eric Chevalier, said the signing marks a new stage in the development of relations with Iraq in the field of oil, gas and energy.

The Representative of Beicip Franlab, Thierry Le Maux, said the deal will help extend the life of the oil and gas fields.

(Source: Ministry of Oil)

Link: https://www.iraq-businessnews.com/2022/01/20/french-oil-consultancy-wins-iraq-contract/

[yota691]

The National Oil Company signs a contract to develop the Mansourieh gas field in Diyala with a capacity of 300 cubic meters

08:22

Fourth - Baghdad

Today, Thursday, Minister of Oil Ihsan Abdul-Jabbar Ismail signed a contract to develop the Mansouriya gas field in Diyala with a capacity of 300 cubic meters with the Chinese company Sinopec.

The ministry said in a statement received by the fourth, that "the Minister of Oil stressed during the signing ceremony the importance of developing the Mansouriya gas field in Diyala Governorate, as it represents a qualitative addition to the energy sector in Iraq."

He said, "This contract represents an addition to the investment of free gas from the Mansouriya field, which is the second largest gas field in Iraq," referring to "authorizing the Central Oil Company to enter as a partner with the Chinese company Sinopec at a rate of (51%)."

The Minister of Oil expressed his "hope that the next government will proceed with the final contract procedures in order for the Chinese company to start development work for the field, and Sinopec is one of the largest oil, gas and petrochemical companies."

For his part, the economic official at the Chinese embassy praised the distinguished relations between the two countries and their desire to expand horizons of bilateral cooperation, especially in the oil and energy sector.

The Director General of the Petroleum Contracts and Licensing Department, Ali Maarij, praised the contracts concluded by the ministry in light of security and health challenges, "expressing his hope for the cooperation of the legislative and regulatory authorities, and their support for the contracts concluded by the ministry."

 

In turn, the Director General of the Central Oil Company, Qaddouri Abdul Salim, confirmed that his company will be a partner of the Chinese company, and that the contract includes training workers to keep pace with development and modern technology in this field. 

Abdul Salim added, "The field's area is (150) km2, and the gas reserve is estimated at (4.5) trillion standard cubic feet, and it is the second largest gas field after the Crutch field in Anbar Governorate, and the contract was included in 2010 in the third licensing round, and won a contract It was developed by a coalition that included the Turkish company (TPAO), Kuwait Energy, and the Korean Kokaz. The coalition of the three companies did not start working in the field due to the security conditions that prevailed in the field at the time.

He added, "In 2021, the Ministry of Oil re-introduced the Mansourieh gas field in the sixth licensing round organized by the Petroleum Contracts and Licensing Department, and won a contract to be developed by the Chinese company (SINOPEC)," noting that "the contract stipulates that the Central Oil Company will be a government partner with a percentage of ( 51%), while the share of the Chinese company (SINOPEC) is (49%).

He stressed that "the expected production capacity of the field is (300) million standard cubic feet per day to supply the electric power stations and that the most important objectives of the Mansourieh gas field development contract is to produce gas with a capacity of 300 cubic feet per day to supply the electric power plants and various industrial projects with their need of gas, In addition to providing job opportunities for the people of Diyala, upgrading the economic reality of the province, and supporting the plans of the National Oil Company to invest in gas.

[yota691]

The Ministry of Oil clarifies the mechanism of contracting with Total and investing in the Okaz and Mansouriya fields

 

oil field

energy Economy News - Baghdad Today, Friday, the Iraqi Oil Ministry issued a clarification regarding the recent contracts concluded, while setting the date for the start of the agreement of the French company Total .   The ministry stated, in a press statement, that, in response to what was reported by social media regarding gas development programs and projects in the south, the Mansouriya gas field in Diyala, and the crutch gas field in Anbar Governorate, and for the importance of clarifying the nature and content of these agreements and contracts to public opinion and those interested once again, Although it has been published by the Ministry of Oil and authorized on more than one occasion, in addition to its presence on the official website of the Ministry, public news sites, the media and the press .   She added , that the Ministry of Oil and its companies affirm its keenness on the optimal investment of the national wealth, and work on developing oil and gas fields with high professionalism, despite the economic, health and security challenges, while placing the national interest above all considerations, away from media excitement . She indicated that the agreement with the French Total Company will enter into force in the first quarter of this year 2022, after obtaining the necessary approvals and reviewing them by the regulatory authorities. Next : ? First: the Mansourieh gas field ? - Its objective is to develop and invest gas fields to secure the local need of dry gas, with the aim of supplying gas-fueled electric power stations, in addition to reducing imports from neighboring countries, maximizing financial revenues, providing job opportunities, and stimulating the economic movement in the province .   - The field was shown within the third licensing round 2010 - And in 2010, the consortium of "Turkish TPAO, Kuwait Energy, and Korean Kokaz " companies won.   - It was not possible for companies to start development operations, due to the security situation in the governorate in 2014 . ? - Because of the importance of the field in the national strategy to increase natural gas production, and in particular, the expansion of electric power generation that runs on natural gas fuels, the Mansourieh gas field was put up for competition based on Cabinet Resolution No. (270) of 2019 which includes approval of what was stated in the letter of the Ministry of Foreign Affairs. Oil No. 1765 on 17/6/2019 with the development of the Mansourieh gas field with the national effort, with the participation of one of the qualified international companies (51% of the Central Oil Company and 49% of the foreign company) and the adoption of the standard contract for the border field tour (the fifth round) according to the principle of profit sharing (Profit Share) .   Accordingly , the Ministry of Oil began organizing a competition round to develop the Mansourieh gas field, and fundamental measures were taken in this regard, which included the following steps :   Selecting a number of qualified international companies and inviting them to participate in the development of the field , numbering (16) companies, where (9) companies expressed their desire to participate in the development of the field, namely PetroIraq , CNOOC , Gazprom , Total , PPL Asia , Zarubezhneft , UEG , SINOPEC , Jereh Energy Group.   - On 31/3/2021 and according to the final tender document, 20/4/2021 was set as a date for the effectiveness of the competition, as the contract obliges the contracting company to achieve the first commercial production at a rate of no less than (100) million standard cubic feet of gas. Dry gas per day within (4) four years from the date of contract entry into force and achieving the peak production target of (300) three hundred million standard cubic feet of dry gas within (7) seven years from the date of contract entry into force .   - A committee was formed headed by the Minister of Oil and with the membership of the Undersecretary for Extraction Affairs and the general managers of the departments (legal, petroleum contracts and licenses, internal control) in addition to the assistant general manager of the Central Oil Company, where the competition event was implemented on 20/4/ 2021 at the Ministry of Oil building. In the presence of the agents and general managers of the ministry’s formations and representatives of foreign companies, the competition process resulted in a referral to the company that submitted the lowest bid, which is the Chinese company (SINOPEC) , which is shared between the Central Oil Company (51%) and Sinopec (49%) according to the decision of the Council of Ministers above. They were notified on 20/1/2022, when the contract was initialed between the Department of Petroleum Contracts and Licensing of the Iraqi National Oil Company and the Chinese company (SINOPEC) .   - This is a preliminary contract, which requires obtaining the approval of the Ministerial Energy Committee and the new Council of Ministers, after which the final signature will be made by the Central Oil Company, one of the national oil companies, and the Chinese Sinopec Company in order to activate the contract and start development operations .   Second : the crutch gas field - The gas crutch field contract was presented and referred as part of the third licensing round of gas fields 2010 to the Korean Kokaz Company, where the company started the work of developing the field and contracting materials and gas refining equipment, and the company was unable to complete its work due to the terrorist events of ISIS and the negotiation group led to the withdrawal company .   ? - Because of the importance of the Okaz dry gas thermal station and Anbar thermal station in generating electric power, and meeting part of the local need, the ministry is communicating with several solid regional and international companies for the purpose of reaching an agreement that achieves the planned goals of developing the field and producing gas, but no agreement or agreement has been reached. Contract with any of these companies so far .   Third : The agreement with the global company Total - Total International has worked for several years to provide high technical support to the Iraqi oil industry and has been the leader in providing studies for the development of giant oil fields in Iraq during the past thirty years. The project is proceeding due to the political conditions of the country .   - French Total for the mentioned projects. To move the project forward for the great development results that this project represents.   The agreement with the French company Total included :   - Four important contracts that contribute to achieving sustainable development, through gas investment contracts with a capacity of 600 million standard cubic feet, and transportation and treatment of sea water... with a capacity of (5) million barrels per day, to maintain and increase production from oil fields, and a contract to generate 1,000 megawatts of solar energy, And the Artawi field development project, which aims to increase production to more than 210 thousand barrels per day .   - This agreement, which came according to the formula of contracts for the fifth licensing round, "profit-sharing", is one of the pioneering steps to develop the oil and gas industry in Iraq, in cooperation with one of the largest international companies, which will place huge financial investments in these projects, as well as the exchange of experience and modern technology. And in a way that contributes to the development of the oil industry, maximizing financial revenues, providing job opportunities for the people of Iraq, and working to stop burning gas and converting it into useful energy to supply electric power plants, petrochemical industries and others, as well as reducing emissions and pollutants .   ? And the ministry added, that the National Oil Company had obtained the approval of the esteemed Council of Ministers in accordance with Resolution (361) for the year 2021 with the Ministry of Oil’s contribution to the infrastructure development project, which was transferred to Total, at a rate of no less than (40%), provided that the sums are recovered from Funds generated from oil exports to contribute (40%) of Total's share of (100%), which will maximize the financial revenues of the national partner .

Views 122   Date Added 01/29/2022

[yota691]

The Iraqi National Oil Company closes the investigation of the fifth licensing round

oil field in iraq

 March 01 2022 12:19 PM

Riyadh - Mubasher: The Iraqi National Oil Company announced the closure of the investigation into the fifth licensing round by the competent court, while confirming the approval of integrated plans to drill and develop gas fields in the Western Desert.

The Ministry of Oil stated in a statement today, Tuesday, that "the National Oil Company held an expanded meeting, where a set of topics on its agenda were discussed," noting that "the company announced the issuance of a decision by the competent court to close the investigation into the fifth licensing round for the development of gas fields." After four years of looking into the case."

The company stated, according to the statement, that it had approved an integrated program for drilling wells in the Western Desert to produce gas by setting plans to develop free gas fields, including exploration and drilling wells, stressing that it has strategic plans to increase the production capacities of free gas through the development of gas fields.

She explained, "This comes within the directions of the Iraqi government and the Ministry of Oil to optimally invest in free and associated gas, and benefit from it in operating electric power plants and in petrochemical industries, as well as switching to clean energy and protecting the environment and climate from harmful emissions."

[yota691]

 

"National Oil" uses international consultations to evaluate oil and gas contracts in Kurdistan

 

2022-03-29 12:49

 

Shafaq News/ The National Oil Company announced, on Tuesday, that it has contracted with international consulting companies to study and evaluate oil and gas contracts in the Kurdistan Region.

A source in the company said in an interview with Shafaq News Agency, "The company has developed a plan to transfer Kurdistan Region contracts and a mechanism for receiving export funds after completing the evaluation process."

On February 15, the Federal Supreme Court declared the unconstitutionality of the oil and gas law of the Kurdistan Regional Government and its abolition, and obligating the regional government to hand over all oil production from the oil fields in the Kurdistan Region and other areas from which the Ministry of Natural Resources extracted oil and handed it over to the federal government represented by the Ministry of Oil Federal.

An official source in the National Oil Company had announced on the first of this March that joint committees from Baghdad and Kurdistan will discuss how to implement the Federal Court's decision.

[yota691]

The Ministry of Oil discusses the file of the oil and gas industry in the Kurdistan region

 Economy

 

•  2-04-2022, 17:29

Today
, Saturday, the Ministry of Oil and the National Oil Company discussed the file of the oil and gas industry in the Kurdistan region.
The media office of the Ministry of Oil stated, in a statement received by the Iraqi News Agency (INA), that "in the presence of Oil Minister Ihsan Abdul-Jabbar Ismail, the Ministry of Oil and the National Oil Company held the third workshop dedicated to discussing the file of the oil and gas industry in the region," noting that "the discussions of this The session included (the optimal management of the oil and gas industry in the Kurdistan region according to the constitutional texts).
The statement added, "During the session, which was discussed in the presence of a number of international and local experts in the field of oil, energy, and constitutional law, as well as the presence of a specialized team from the Office of Financial Supervision, the contracts concluded during the past period, and the financial flows of the region, were presented. Models of contracts concluded with international companies, and express professional, contractual, financial, legal and other observations.
He continued, "This discussion workshop was attended by the Undersecretary for Extraction Affairs, the Second Deputy of the National Oil Company, and a number of officials and directors of the relevant departments in the Ministry and the National Oil Company."

 

[ametad]

I am LOVING this kind of progress!!

[yota691]

The Minister of Oil reveals the content of new standards for dealing with the share of the Kurdistan region

2022.04.05 - 17:23

 

Baghdad - people  

Oil Minister Ihsan Abdul-Jabbar revealed, on Tuesday, that there are new criteria for calculating the share of the Kurdistan region that is handed over to the federal government in oil exports.  

 

  

Abdul Jabbar said in a statement to the official agency, followed by "Nas" (April 5, 2022), that "the Kurdistan region, according to the budget law for the year 2021, is required to deliver sums of 250 thousand barrels at the price of SOMO to the federal government," explaining that "what happened is a deduction. The value of 250 thousand barrels per day of the region’s dues, and the settlement of the Ministry of Finance was made on this basis.”  

  

And he indicated that "last year there were small amounts of money paid to the region, but this year there will be other criteria that entered into calculating the region's share and the federal government is working on it."  

 

The Federal Court ruled, earlier, the unconstitutionality of the oil and gas law in the Kurdistan Regional Government.  

  

And the judiciary's media stated in a statement that "Nass" received a copy of it, (February 15, 2022), that "the Federal Court issues a ruling that the oil and gas law in the Kurdistan Regional Government is unconstitutional."     

  

He added that "the federal government obligated the region to enable the Ministry of Oil and the Federal Office of Financial Supervision to follow up on the conclusion of contracts for the sale of oil and gas in the region."     

  

The federal government also obligated "the regional government to hand over to the federal government, represented by the Federal Ministry of Oil."     

  

  

  

[yota691]

Approval of the association of the security guards with the National Oil Company

2022.04.06 - 10:55

 

Baghdad - people   

On Wednesday, the Ministry of Oil announced the minister's approval of the security guards' association with the National Oil Company.   

 

  

And the ministry stated in a statement that "Nass" received a copy of it, (April 6, 2022), "I obtained the approval of the Minister of Oil, Ihsan Abdul-Jabbar Ismail, to disengage the security guards from the Ministry of Interior, and their association with the companies owned by the National Oil Company."   

[yota691]

Oil Minister: Setting new criteria for calculating Kurdistan’s share

 

energy Economy News - Baghdad Oil Minister Ihsan Abdul-Jabbar revealed, on Tuesday, that there are new criteria for calculating the share of the Kurdistan region that is handed over to the federal government in oil exports. Abdul-Jabbar said in a statement to the official news agency, "The Kurdistan Region, according to the budget law for the year 2021, is required to deliver sums of 250 thousand barrels at the price of SOMO to the federal government," explaining that "what happened is the deduction of 250 thousand barrels per day from the region's dues and a settlement The Ministry of Finance was done on this basis." And he indicated that "last year there were small amounts of money paid to the region, but this year there will be other criteria that entered into calculating the region's share and the federal government is working on it."

Views 380   Date Added 05/04/2022

[yota691]

The Ministry of Oil discusses service contracts and production partnership with the Kurdistan region

Part of the discussion of the file of the oil and gas industry in the Kurdistan region

 April 07, 2022 02:39 PM

Mubasher: The Iraqi Ministry of Oil and the National Oil Company held, today, Thursday, the fourth workshop to discuss the file of the oil and gas industry in the Kurdistan region, in the presence of the Minister of Oil, Ihsan Abdul-Jabbar Ismail, and the two Vice-Presidents of the National Oil Company.

The session included, according to a statement by the Ministry of Oil, a comparison discussion between service contracts and production participation, and a review of partnership contracts concluded in the region compared to the service contracts approved by the ministry in its contracts with international companies, where models for the contracts under discussion were presented, and professional, contractual, financial and legal observations were made. and others.

The Ministry of Oil indicated that it is holding intensive meetings with the National Oil Company with experts and the relevant committees formed for this purpose. To develop mechanisms for implementing the esteemed Federal Court’s decision, in the presence of a number of officials and directors of the relevant departments in the Ministry and the National Oil Company.

[yota691]

Oil discusses service contracts and production partnership with Kurdistan

 

Material uses Economy News - Baghdad On Thursday, the Ministry of Oil discussed the issue of service contracts and partnership in the oil and gas industry with the Kurdistan region. The ministry stated, in a statement, that "the National Oil Company held, in the presence of Oil Minister Ihsan Abdul-Jabbar Ismail, the fourth workshop to discuss the file of the oil and gas industry in the region." The session, which was attended by the two Vice-Presidents of the National Oil Company, included "a discussion (a comparison between service contracts and production sharing), and a review of the partnership contracts concluded in the region compared to the service contracts approved by the ministry in its contracts with international companies." "Forms of the contracts under discussion were presented, and professional, contractual, financial, legal and other observations were presented ." The ministry indicated in its statement to "extensive meetings jointly with the National Oil Company with experts and the relevant committees formed for this purpose, to develop mechanisms for implementing the esteemed Federal Court's decision, and in the presence of a number of officials and directors of the relevant departments in the ministry and the National Oil Company."

Views 92   Date Added 07/04/2022

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Hoping this can help to move the HCL forward.