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Video: Why Oil-Rich Iraq Needed Kuwait Energy Deal

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Many ask why oil-rich Iraq needed to make Kuwait energy deal

Iraq’s government has signed a deal with Kuwait in a bid to alleviate its energy crisis after the lack of kerosene and electricity led to widespread unrest.

But many are asking why Iraq, which holds the world’s fifth-largest petroleum reserves, needs help from Kuwait.

Al Jazeera‘s Imran Khan reports from Baghdad:

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Saipem wins contract at West Qurna

By John Lee.

Italy’s Saipem has been awarded a contract by ExxonMobil Iraq Limited for the DS6 project for the debottlenecking of the West Qurna field, in the south east of Iraq.

Debottlenecking is a process that optimises a plant in order to increase its overall capacity.

The works will have a duration of 23 months and will mainly be executed in the Rumaila fabrication yard, owned by Saipem.

(Source: Saipem)

(Picture: Saipem chief executive, Stefano Cao)

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Kuwait donates Generators to Iraq

Kuwait has donated 17 mobile electric generators with a total capacity of 30,000 kilowatts to Iraq, the Undersecretary of the Kuwaiti Ministry of Electricity and Water, Mohammed Bushehri has announced.

In a press statement, Bushehri said the donation came “to alleviate the electricity crisis in the Iraqi city of Basra”.

“In the light of the current difficult circumstances faced by our brothers in Iraq, which is partly due to a severe shortage of electricity, His Highness the Emir of Kuwait, Sheikh Sabah Al Ahmad Al Jaber Al Sabah has instructed us to provide urgent assistance to brotherly Iraq” he said.

The Iraqi Ministry of Electricity announced last Friday that Kuwait would supply it with fuel to operate the power stations in the country.

Videos were circulated on social media showing a convoy of generators and fuel tankers heading to Iraq.

Iran has recently stopped exporting electricity to Iraq as a result of Baghdad’s accumulated debt.

(Source: Middle East Monitor)

(Picture: Parliament in Kuwait City. Credit, Leshonai)

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Oil Ministry Finalises Export Figures for June

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for June of 105,640,161 barrels, giving an average for the month of 3.521 million barrels per day (bpd), an increase from the 3.490 bpd exported in May.

These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were  $7.264 billion at an average price of $68.758 per barrel.

The oil was shipped by 38 international companies from the ports of Basra, Khor Al-Omaia and the SPMs on the Gulf.

May export figures can be found here.

(Source: Ministry of Oil)

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Deadlines Extended for 2 More Oil Refineries

By John Lee.

The Ministry of Oil has extended the closing dates for tenders for two new oil refineries:

Companies interested in investing must submit their documents by the end of working hours on Sunday, 30th October 2018.

For further information please contact studies@oil.gov.iq or studies.oil@gmail.com.

(Source: Iraqi Ministry of Oil)

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Video: Protests Outside Oil Field near Basra

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

People are still protesting across southern Iraq, despite a promise by the prime minister to create jobs and improve public services.

The unrest began in the oil-rich province of Basra last week and has spread to several other large cities.

Demonstrators say they’re not benefitting from Iraq’s vast oil wealth, because of government corruption and mismanagement.

Al Jazeera‘s Osama Bin Javaid reports:

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Field Energy Services joins Iraq Britain Business Council

The Iraq Britain Business Council (IBBC) has announced that Field Energy Services (FES), one of Iraq’s leading oil and gas service providers, has joined the Council.

Established in 2008, FES is an Iraqi registered company who supply a diverse range of products, services and logistical support to companies operating across the energy supply chain in Iraq. FES offers comprehensive, high-valued technical, industrial, trading, logistical, life support, training, construction and engineering solutions.

FES work on multiple fronts to help accelerate the development of the country’s oil and gas industry, including the opening of a dedicated repair and maintenance facility, building two highly secure and fully integrated business parks, and a world-class vocational training centre.

Field Energy Services represents international principals and partners in Iraq through its subsidiary, Al Majal Commercial Agencies, and is an approved supplier to leading international oil companies (IOCs), national oil companies (NOCs), and international Engineering, Procurement and Construction companies (EPCs).

Together with their partners, FES offer a wide spectrum of products and services to the energy industry, ranging from the repair and maintenance of rotating equipment to offering customized warehouses and offices, and creating internationally accredited and customized vocational training courses to oil and gas companies operating in Iraq.

(Source: IBBC)

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DNO Picks Up Peshkabir Production in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced a two-thirds increase in production from the Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 25,000 barrels of oil per day (bopd) following completion of the Peshkabir-4 well testing program.

The well has been placed on production at a rate of 10,000 bopd through a 72/64″ choke with 790 psi wellhead pressure through temporary, capacity-constrained test facilities and the oil trucked to Fish Khabur for export.

The Peshkabir-4 well was designed as a high angle well to assess the central part of the structure four kilometers west of the Peshkabir-3 well and drilled to a measured depth of 3,525 meters, including a 1,150 meter extended reach reservoir section. A total of 11 zones were tested and flowed between 1,500 bopd and 7,000 bopd per zone.

The next well in the 2018 field development campaign, Peshkabir-5, has been drilled seven kilometers west of Peshkabir-3 and has successfully proved the westward extension of the field. Completed in June, it is currently undergoing final testing; a total of four zones have been tested so far and flowed between 4,000 bopd and 7,500 bopd per zone.

DNO will bring this well onstream in August and expects to reach and surpass its previously announced summer 2018 Peshkabir production target of 30,000 bopd.

“The pickup in Peshkabir production puts new meaning to the fast in fast track in development of this field by the DNO team,” said Bijan Mossavar-Rahmani, DNO’s Executive Chairman.  “And we expect Peshkabir to continue to surprise to the upside,” he added.

Two other wells, Peshkabir-6 and Peshkabir-7, are drilling ahead at 3,900 meters and 3,100 meters, respectively. Peshkabir-6, a near vertical well, will explore the field’s deeper Triassic formation and establish the Cretaceous oil/water contact level. Peshkabir-7 is a high angle producer well located between Peshkabir-4 and Peshkabir-5.

The Peshkabir field was brought on production in 2017 and two drilled wells last year, Peshkabir-2 and Peshkabir-3, have produced at a constant combined rate of around 15,000 bopd.

DNO operates and has a 75 percent interest in the Tawke license, which contains the Tawke and Peshkabir fields, with partner Genel Energy plc holding the remainder. Together, output from the two fields has averaged 106,000 bopd year-to-date.

(Source: DNO)