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Baker Hughes to Boost Gas Production at Nassiriya and Gharraf

By John Lee.

US-based Baker Hughes has reportedly signed a contract with state-owned Dhi Qar Oil Company (DQOC) to increase production of associated gas at the Nassiriya and Gharraf [Garraf] (pictured) oilfields.

Anwar Hadi Shiaa, a director of the DQOC, told the state-controlled Iraqi News Agency that the company aims to increase the gas production from 20 million standard cubic feet to 200 million standard cubic feet at the two oilfields “in the coming period.”

He added that a contract has been made with Baker Hughes, in cooperation with the South Gas Company (SGC), which wil lead to an 80-percent increase in production.

(Source: INA)

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Dust Storms and Climate Change hammer Iraq

By Jassim Al-Falahy, Iraqi Minister of Environment, for Newsweek. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Dust Storms, Climate Change Hammer Iraq

In Iraq this past spring, the air sometimes was orange. Not the sky, the air. It looked like what I imagine Mars looks like from the planet’s surface.

Dust was the culprit, and it was everywhere.

Click here to read the full report.

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Iraq maintains Oil Export Volume for September

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for September of 98,765,153 barrels, giving an average for the month of 3.292 million barrels per day (bpd), slightly up from the 3.286 million bpd exported in August.

The exports from the oilfields in central and southern Iraq amounted to approximately 96,445,421 barrels, while exports from the Kirkuk fields through the port of Ceyhan amounted to 2,169,180 barrels.

While not explicitly stated by the Ministry, these figures seem to imply that exports by road to Jordan totalled 150,552 barrels for the month.

Revenues for the month were $8.773 billion, falling below $9 billion for the first time since February. The average price was $88.83 per barrel.

August’s export figures can be found here.

(Source: Ministry of Oil)

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Iraq Confirms August Oil Exports

By John Lee.

Iraq’s Ministry of Oil has announced finalised oil exports for August of 101,859,528 barrels, giving an average for the month of 3.286 million barrels per day (bpd), down from the 3.303 million bpd exported in July.

The exports from the oilfields in central and southern Iraq amounted to approximately 100,750,000 barrels, while exports from the Kirkuk fields through the port of Ceyhan amounted to 1,109,528 barrels.

While not explicitly stated by the Ministry, these figures seem to imply that there were no exports by road to Jordan.

Revenues for the month were $9.689 billion, falling below $10 billion for the first time since February. The average price was $95.120 per barrel.

July’s export figures can be found here.

(Source: Ministry of Oil)

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SAFEEN Group to provide Fuel Oil Transport to Iraq

AD Ports Group‘s (ADPORTS) SAFEEN Group and Amaan Baghdad Company have signed an agreement to support a new project relating to fuel oil transport and storage from Khor Al Zubair and Umm Qasr oil terminals in Iraq.

The project represents a significant extension of SAFEEN Group’s portfolio of dedicated products and services into the oil and gas sector and is part of its ongoing expansion in the key market of Iraq.

Under the terms of the agreement, SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.

Working with Amaan Baghdad Company, SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker. The fuel oil will then be transferred and stored on the VLCCs, which will serve as floating fuel tanks with monthly delivery capacity of 750,000 tonnes.

The agreement is secured at competitive rates, providing flexibility for the Iraqi partners, and ensuring a favourable rate of return for SAFEEN Group, which will not engage CapEx in this transaction.

Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group, said:

“We are pleased to complete this new agreement to support a major fuel oil transport and storage project in Iraq. The energy sector is an important growth market for SAFEEN Group, and this project demonstrates our expertise in this area as well as the extent and sophistication of our fleet. 

“At the direction of our wise leadership, SAFEEN Group is expanding its global footprint to provide key maritime services to companies around the world. This agreement underlines our capacity to tailor solutions to the specific needs of companies in the oil and gas industry and marks an important extension of our presence in Iraq.“

Fadie Fouad, CEO Amaan Baghdad Company, said:

“We have selected SAFEEN Group based on its comprehensive suite of world-class marine services and the expertise of the dedicated team who will manage this project. The global fuel oil market has been volatile in 2022, and this additional storage capacity will support Iraq’s competitive offering.”  

In addition to this new agreement, SAFEEN Feeders supports a weekly container service that connects Iraq with global markets. The company continues to look for opportunities to support the growth and diversification of maritime trade for Iraq.

(Source: AD Ports)

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SAFEEN Group to provide Fuel Oil Transport to Iraq

AD Ports Group‘s (ADPORTS) SAFEEN Group and Amaan Baghdad Company have signed an agreement to support a new project relating to fuel oil transport and storage from Khor Al Zubair and Umm Qasr oil terminals in Iraq.

The project represents a significant extension of SAFEEN Group’s portfolio of dedicated products and services into the oil and gas sector and is part of its ongoing expansion in the key market of Iraq.

Under the terms of the agreement, SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.

Working with Amaan Baghdad Company, SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker. The fuel oil will then be transferred and stored on the VLCCs, which will serve as floating fuel tanks with monthly delivery capacity of 750,000 tonnes.

The agreement is secured at competitive rates, providing flexibility for the Iraqi partners, and ensuring a favourable rate of return for SAFEEN Group, which will not engage CapEx in this transaction.

Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group, said:

“We are pleased to complete this new agreement to support a major fuel oil transport and storage project in Iraq. The energy sector is an important growth market for SAFEEN Group, and this project demonstrates our expertise in this area as well as the extent and sophistication of our fleet. 

“At the direction of our wise leadership, SAFEEN Group is expanding its global footprint to provide key maritime services to companies around the world. This agreement underlines our capacity to tailor solutions to the specific needs of companies in the oil and gas industry and marks an important extension of our presence in Iraq.“

Fadie Fouad, CEO Amaan Baghdad Company, said:

“We have selected SAFEEN Group based on its comprehensive suite of world-class marine services and the expertise of the dedicated team who will manage this project. The global fuel oil market has been volatile in 2022, and this additional storage capacity will support Iraq’s competitive offering.”  

In addition to this new agreement, SAFEEN Feeders supports a weekly container service that connects Iraq with global markets. The company continues to look for opportunities to support the growth and diversification of maritime trade for Iraq.

(Source: AD Ports)

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Genel Energy announces New CEO

Genel Energy has announced the appointment of Paul Weir as Chief Executive Officer, and as a member of the Board of Directors, with immediate effect.

Paul, who was previously Chief Operating Officer before being made Interim Chief Executive Officer in June this year, joined Genel in January 2020. Paul had worked for more than 30 years in upstream E&P with experience in the North Sea, South East Asia and Africa.

Before joining Genel, Paul was Group Head of Operations and Safety at Tullow Oil. Prior to that he had spent 13 years at Talisman Energy, ultimately as VP Production and Exploration. He has also worked in a variety of roles at Total, Occidental, Elf and Nippon Oil.

David McManus, Chair, said:

“I am delighted to confirm the appointment of Paul as Chief Executive Officer. He has the experience and vision to deliver Genel’s strategy, as we focus on positive performance from our current portfolio and utilising our material financial strength to grow the Company for the benefit of all stakeholders.

“Paul has already brought energy and clarity to the business, giving us confidence that value delivery will follow.”

Paul Weir, CEO, said:

“I am excited to be leading Genel as we move on to the next chapter of our growth story. We have built a fantastic team that I am confident will turn our significant growth potential into value for shareholders. My highly experienced team is focused on both operational delivery – our production remains robust, and our material dividend is well supported – as well as exploring opportunities for putting our balance sheet to work to enhance our position by adding assets.

“As we look to do so, we will not lose our firm focus on the central pillars of our business model – mitigating risk and ensuring the ongoing financial strength to support our dividend in the long-term.“

(Source: Genel Energy)

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Genel Energy announces New CEO

Genel Energy has announced the appointment of Paul Weir as Chief Executive Officer, and as a member of the Board of Directors, with immediate effect.

Paul, who was previously Chief Operating Officer before being made Interim Chief Executive Officer in June this year, joined Genel in January 2020. Paul had worked for more than 30 years in upstream E&P with experience in the North Sea, South East Asia and Africa.

Before joining Genel, Paul was Group Head of Operations and Safety at Tullow Oil. Prior to that he had spent 13 years at Talisman Energy, ultimately as VP Production and Exploration. He has also worked in a variety of roles at Total, Occidental, Elf and Nippon Oil.

David McManus, Chair, said:

“I am delighted to confirm the appointment of Paul as Chief Executive Officer. He has the experience and vision to deliver Genel’s strategy, as we focus on positive performance from our current portfolio and utilising our material financial strength to grow the Company for the benefit of all stakeholders.

“Paul has already brought energy and clarity to the business, giving us confidence that value delivery will follow.”

Paul Weir, CEO, said:

“I am excited to be leading Genel as we move on to the next chapter of our growth story. We have built a fantastic team that I am confident will turn our significant growth potential into value for shareholders. My highly experienced team is focused on both operational delivery – our production remains robust, and our material dividend is well supported – as well as exploring opportunities for putting our balance sheet to work to enhance our position by adding assets.

“As we look to do so, we will not lose our firm focus on the central pillars of our business model – mitigating risk and ensuring the ongoing financial strength to support our dividend in the long-term.“

(Source: Genel Energy)

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Night Bird Construction: A fresh new approach to the Iraqi construction industry

Advertising Feature

Night Bird Construction (NBC) is a fast paced and highly organized Iraqi construction company created through the excellence of its team.

NBC’s Senior Construction Managers, Engineers and team of highly skilled industry professionals have achieved great success in construction projects across the globe; especially in IRAQ!

Some Examples of Prime Construction Projects Completed by the NBC Team

  • First privately invested Fuel Facility (20,000MT) in Iraq at the port of Khor Al Zubair bringing refined oil products back into Iraq for the International Oil Companies and their Subcontractors
  • Shell’s first major infrastructure project on Majnoon oilfield including fuel stations, water treatment plants, incineration facilities, chemical warehousing and many more essential construction works that enabled Shell to uplift the oil production on Majnoon Oilfield
  • Logistics base (100,000sqm), strategically located close to the Safwan border for easy customs, laydown, storage and uplift operations for cargo overland from Kuwait
  • Lukoil brownfield well pads modification projects, West Qurna 2 Oilfield requiring much dialogue with Lukoil & the BOC to ensure project success
  • Gas Turbine Power Plant for General Electric & the MoE at Al-Hartha, Basra, a challenging project but completed on time, to budget and quality; much to our clients satisfaction

Night Bird Construction has offices in Basra, Baghdad, Dubai & London

Contact: info@nbc-iraq.com

https://nightbirdconstruction.com/

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Karbala Refinery begins Trial Ops

By John Lee.

The Minister of Oil has announced the commencement of crude oil supplies to Karbala refinery for the start of its trial operation.

Ihsan Abdul-Jabbar Ismail said that the refinery has a capacity of 140,000 barrels per day (bpd) and will help partially in meeting local needs and reducing imports of refined fuel.

He also praised the efforts of all involved, including the consortium of Korean companies and all the parties who supported the project.

Regular production is due to start by the end of the year.

In 2014, a group of companies led by Hyundai Engineering & Construction won the $6.04-billion contract to build the new refinery. The joint venture, HDGSK, also involved GS Engineering & Construction, and SK Engineering & Construction.

French company Technip provided project management consultancy (PMC) services for the engineering, procurement and construction (EPC) phase.

(Source: Ministry of Oil)

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