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By John Lee.
The head of Russia’s LUKoil has said that the company plans to start production at Iraq’s Block 10 at the end of 2022 or in 2023.
Vagit Alekperov (pictured) told a Reuters that output will start at 30,000 barrels per day (bpd).
The field is being developed by LUKoil (60%) and Inpex (40%)
(Source: Reuters)
The post LUKoil announces Plans for Iraq’s Block 10 first appeared on Iraq Business News.
By John Lee.
Iraq’s Oil Minister, Ihssan Abdul-Jabbar Ismail, has announced the start of experimental operations at the Yamamah reservoir in the West Qurna 2 oil field, with the aim of increasing output from the reservoir from 10,000 barrels per day (bpd) to 350,000 bpd.
When fully implemented, the development would bring total production at the field to 800,000 bpd.
The Minister praised the work of Russian company Lukoil, which is developing the field.
(Source: Ministry of Oil)
The post Increasing Oil Production at West Qurna 2 first appeared on Iraq Business News.
By John Lee.
The Dhi Qar Oil Company (DQOC) has reportedly said that Litasco, the international marketing and trading company of Russia’s LUKOIL, will finance the doubling of capacity at the Nassiriyah oil field from 100,000 barrels per day (bpd) t0 200,000 bpd.
The project includes a 42-kilometer pipeline, and will be a joint venture between the State Company for Oil Projects (SCOP) and Italy’s Progetti.
(Source: Shafaq)
The post Russian Oil Firm to Finance Nassiriyah Development first appeared on Iraq Business News.
The Prime Minister of Iraq, Mustafa Al-Kadhimi, and Iraqi Oil Minister Ihsan Abdul Jabbar Ismail, received a delegation from LUKOIL on Monday, headed by its President Vagit Alekperov (pictured).
The meeting was also attended by the Russian Ambassador Maxim Maximov.
The parties discussed the progress of the West Qurna-2 project and Eridu field (Block-10), as well as prospects for cooperation in other areas in Iraq.
Prime Minister praised LUKOIL’s operations in the Republic and spoke in favor of expanding cooperation and coordination between LUKOIL and the Iraqi Oil Ministry.
(Source: Lukoil)
The post Lukoil and Iraqi PM discuss Cooperation first appeared on Iraq Business News.
Iraqi Government and Oil and Gas Industry Thought Leaders to Speak at Iraq Petroleum Virtual Event
CWC and Global Future Energy’s Iraq Petroleum Virtual Conference will include 6 content-rich panel sessions, enabling the oil and gas industry stakeholders to connect and engage with each other virtually to address current issues and facilitate practical solutions to advance the industry in these challenging times.
The Iraq Petroleum Virtual Conference constitutes of Ministerial Panel, Leader’s Session, a Spotlight Session on Kurdistan Iraq Economic Relations and executive panels delivered by thought industry experts. The conference will provide exclusive information, maps and updates on unrivalled opportunities and upcoming projects.
Iraq Petroleum attendees will gain all necessary tools to swiftly adapt their businesses to the post-lockdown environment. In light of the unprecedented circumstances and arising opportunities, the decision-makers and influencers from across the industry will get together to unlock new business opportunities on all levels of the energy industry at Iraq’s most-established and longest-running energy event, the Iraq Petroleum Conference, and discuss:
Over the past decade, the CWC Iraq Portfolio has hosted over 100+ Ministers and Senior Officials at various events. Now in its 14th year, Iraq Petroleum will again provide the only platform for oil and gas stakeholders in Iraq to convene. These high-calibre events are held with the support and participation of the new Federal Iraqi Government, the Federal Ministry of Oil, Federal Ministry of Electricity, the Iraqi Federal Parliament, REFAATO as well as considerable sponsors including Lukoil, Mitsubishi and ILF.
Speakers will include:
For further information, visit https://www.cwciraqpetroleum.com/
To access the full programme, please click here.
The post Key Speakers to address Iraq Petroleum Virtual Event first appeared on Iraq Business News.
By John Lee.
The director of the China National Offshore Oil Corporation (CNOOC) has presented his company’s plans for the development of the Bazergan [Buzurgan] oil field in Maysan to Iraq’s Oil Minister Ihsan Abdul-Jabbar.
In a separate meeting on Wednesday, the Minister also received the CEO of Lukoil in Iraq, Igor Zubarev, who gave a summary of the company’s activities and plans in Iraq.
(Source: Ministry of Oil)
By John Lee.
Lukoil is reportedly having difficulties staffing its operations in Iraq due to coronavirus and associated restrictions.
Interfax cited chief executive Vagit Alekperov (pictured) was quoted as saying that the company has a problem with replacing shift workers, adding, “We are reaching deals with people to keep them on for shifts that are 60 days long or more.“
The Russian-based company operates the West Qurna 2 oilfield in Basra, one of the world’s largest fields.
(Source: Reuters)
By John Lee.
Investment by Russian oil and gas companies in Iraq may increase three-fold, according to a report by Tass.
It quotes Russian politician Yury Fedorov [Nikolay Vasilyevich Fyodorov] as telling the Iraqi Ambassador to Russia, Abdul-Rahman Al-Husseini, that the total investment in Iraq by companies such as Lukoil, Bashneft and Gazprom Neft has exceeded $10 billion, and that this could triple.
“Our companies such as Zarubezhneft, Tatneft and Rosneftegaz also show a high degree of interest,” he added.
(Source: Tass)
By Vera Mironova and Mohammed Hussein, for Foreign Policy. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
With ongoing protests making other investors nervous, Moscow is charging ahead.
Despite ongoing protests in Baghdad, which have seen the departure of many foreign diplomats for security concerns, Russia has doubled down.
Not only has its embassy stayed open in the recent weeks of turmoil, but its foreign minister, Sergei Lavrov (pictured), also paid a visit last month, first touring Baghdad and then Erbil.
His tour did not look like a regular diplomatic mission. There were no official agreements signed; politics, Syria, and terrorism seemed like an afterthought; and diplomats were in the minority during the week’s events.
In fact, the majority of the participants were businesspeople, including representatives of such Russian oil and gas companies as Gazprom Neft, Rosneft, Soyuzneftegaz, and Lukoil.
Also in attendance were representatives of Technopromexport, a Russian company that builds energy facilities, and from Russia’s Federal Service of Military-Technical Cooperation.
Click here to read the full story.
See also:
By Vera Mironova and Mohammed Hussein, for Foreign Policy. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
With ongoing protests making other investors nervous, Moscow is charging ahead.
Despite ongoing protests in Baghdad, which have seen the departure of many foreign diplomats for security concerns, Russia has doubled down.
Not only has its embassy stayed open in the recent weeks of turmoil, but its foreign minister, Sergei Lavrov (pictured), also paid a visit last month, first touring Baghdad and then Erbil.
His tour did not look like a regular diplomatic mission. There were no official agreements signed; politics, Syria, and terrorism seemed like an afterthought; and diplomats were in the minority during the week’s events.
In fact, the majority of the participants were businesspeople, including representatives of such Russian oil and gas companies as Gazprom Neft, Rosneft, Soyuzneftegaz, and Lukoil.
Also in attendance were representatives of Technopromexport, a Russian company that builds energy facilities, and from Russia’s Federal Service of Military-Technical Cooperation.
Click here to read the full story.
See also: