Occidental, Pertamina Consider Sonangol’s Iraq Deals
US oil major Occidental Petroleum Corp and Indonesian state oil firm Pertamina have shown an interest in taking a stake in Sonangol’s two Iraqi oilfield development projects, a company official said on...
View ArticleOccidental to Build Water Desalination Plant
Occidental Petroleum is planning to build a water desalination plant in Umm Qasr, Basra, an oil expert said on Monday. “The oil company seeks to implement the project as the South Oil Company refused...
View ArticleEni CEO: Zubair Oilfield Output Up 10% By End-2010
Italy’s Eni SpA and its partners will raise oil production from Iraq’s Zubair oil field 10% above its previous level of around 180,000 barrels a day by the end of this year, the company said on...
View ArticleOil Output at Zubair Reaches First Target
Eni SpA and its partners, Missan Oil Company, Occidental Petroleum, and Korea Gas Corp (KOGAS), have reached a key production target at Iraq’s Zubair oil field. Production at the field near the city of...
View ArticleIraq’s Oil Production Hits New High
Iraq’s daily oil production rose to 2.5 million barrels, the biggest since 2003, a spokesman for the oil ministry said on Wednesday. “The daily oil production rose by 10% through cooperation among...
View ArticleBP, CNPC First to Receive Development Costs
BP and its partner China National Petroleum Corporation (CNPC) will be the first companies to be paid back by the Iraqi government for developing Iraq’s supergiant Rumaila oil field, a senior Iraqi oil...
View ArticleIraqi Drilling Company Starts Work at Zubair
Reuters reports that Iraq’s state-run Iraqi Drilling Company has started work at the Zubair oil field under a $250 million contract to drill 23 new wells in the field. Director Idrees al-Yassiri said...
View ArticleZubair Oil Storage Depot Bombed
A bomb attack on an oil storage depot in Iraq’s Zubair oilfield set one tank ablaze and halted pumping from the station, sources said on Sunday. AKnews reports that firefighters have got the flames...
View ArticleClinton urges U.S. companies to invest in Iraq
Iraq is open for business, and American companies should make an effort to invest there, Secretary of State Hillary Clinton (pictured) has said, according to a report from CNN. The Secretary was...
View Article$18bn to be Invested in Zubair
According to a document obtained by Reuters from Iraq’s oil ministry, Iraq’s Zubair oilfield will reach its peak output target of 1.2 million barrels per day (bpd) by the start of 2017. The Zubair...
View ArticleKOGAS, Occidental, get Oil from Zubair
Korea Gas Corp (Kogas) said on Tuesday that it will receive 500,000 barrels of crude oil on 15th December as “remuneration fees” and as a return on investment for helping develop Iraq’s Zubair oil...
View ArticleIraq OKs Weatherford $843m Zubair Power Contract
On Tuesday, Iraq’s Cabinet approved an $843 million service contract granted to Weatherford International to install six power stations at the Zubair oil field. Government spokesman and Minister of...
View ArticleIraq Approves $359m Zubair Oilfield Contract
By John Lee. Iraqi government spokesman Ali Al Dabbagh (pictured) has said that the cabinet has approved a $358.8 million contract with Italy’s SICIM and Dubai-based Drake and Scull to lay pipelines in...
View ArticleEni Consortium to Invest $18bn in Zubair
The CEO of Italian oil and gas company Eni, Paolo Scaroni (pictured), said he expects the consortium led by Eni to invest $18 billion in the Zubair oilfield. He added that the group, which includes...
View ArticleEni’s Scaroni Meeting with al-Maliki
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met on Monday in Baghdad to discuss Eni’s activities in the country. During the meeting, Mr Scaroni along with...
View ArticleOccidental Offers Stake in Mideast Unit
Occidental Petroleum has reportedly begun trying to sell a minority stake in its Middle East unit for as much as $8 billion. According to a report from Bloomberg, Chief Executive Officer Stephen Chazen...
View ArticleDaewoo Wins $589m Gas Separation Contract
By John Lee. Iraq’s cabinet has approved an $589 million oilfield service contract with South Korea’s Daewoo Engineering & Construction. The contract, approved on Tuesday, is for the engineering,...
View ArticleKOGAS in $4.9 Billion Project
By Patrick Schmidt. On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project. The investment will help establish the facilities needed to...
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PM al-Abadi Meets Oil Bosses
During his visit to Washington this week, Prime Minister Haider al-Abadi received the Chairman and CEO of Occidental Petroleum, Mr. Steve Chazen, and the Chairman and CEO of ExxonMobil, Mr. Rex...
View ArticlePenspen Expands in Iraq
Penspen, a leading global provider of engineering and management services to the energy industry, has underlined its commitment to growth in the Middle East with three new appointments and investment...
View ArticleKOGAS to Invest $4.9bn in Zubair
By John Lee. The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield. In a stock exchange filing,...
View ArticleDSI Wins $61m Zubair Project
Dubai-based Drake & Scull International PJSC (DSI) has announced that it has been awarded a AED 226 million ($61 million) engineering, procurement and construction (EPC) contract for the...
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