Iraq Ministry of Oil Company News

Recent Articles

Results 50 articles shown

Exxon Spearheads Iraqi Water-Injection Project
Monday, April 19, 2010ExxonMobil will be the leader of a multibillion joint water-injection project planned to be set up in southern Iraq to help offset a water problem facing oil-field development.

Iraq to Alter Signature Bonuses on 2 Oil Field Deals
Thursday, April 15, 2010The Iraqi oil ministry is seeking unrecoverable signature bonuses, rather than recoverable five-year soft loans, from international oil companies planning to develop two of the country's giant oil fields, a senior Iraqi oil official said Thursday.

Iraq Plans New Licensing Auction for 3 Gas Fields
Wednesday, April 14, 2010The Iraqi Oil Ministry is planning to hold a third licensing auction this year to develop three discovered gas fields.

Shell to Discuss Majnoon Development on April 11
Wednesday, March 31, 2010Shell will hold the first joint management committee meeting with its Iraqi state partner in April to discuss a preliminary development plan and initial budget for the supergiant Majnoon oil field.

CNOOC, Sinochem Sign Initial Agreement with Iraqi Oil Ministry
Monday, March 08, 2010A consortium led by CNOOC has signed an initial agreement with the Iraqi oil ministry to develop the 2.5 billion-barrel Missan oil field complex.

Chinese Cos Expected to Close on Iraqi Oil Deal - Officials
Thursday, March 04, 2010A consortium led by CNOOC is expected to be awarded Iraq's 2.5 billion-barrel Missan oil-field complex after agreeing to Iraqi government proposals.

Iraq-Nippon Talks on Nassiriya Oil Field Deadlocked
Monday, March 01, 2010The Iraqi Oil Ministry has suspended talks with a consortium of Japanese companies to develop the giant Nassiriya oil field.

Statoil-Lukoil Consortium Finalize Iraqi Oil Deal
Monday, February 01, 2010Statoil and Lukoil have signed the development and production service contract for West Qurna 2.

PetroChina Consortium Seals Iraqi Oil Deal
Thursday, January 28, 2010PetroChina, Total and Petronas will help redevelop the Halfaya oil field in Iraq, increasing production from 3,1000 bopd to 535,000 bopd.

Sonangol Clinches Deals for Iraqi Oil Fields
Tuesday, January 26, 2010Sonangol has finalized a development agreement with the Iraqi Oil Ministry to increase production at two of the country's northern oil fields.

ExxonMobil Signs on for West Qurna Expansion
Monday, January 25, 2010ExxonMobil will redevelop and expand the West Qurna-1 field in southern Iraq.

Sonangol Signs Initial Pacts for Two Iraqi Oil Fields
Wednesday, December 30, 2009Sonangol has signed two initial deals to develop the Qaiyarah and Najmah oil fields, each holding some 800 million barrels of proven oil reserves, in northern Iraq.

Lukoil, Statoil Sign Initial Pact for West Qurna Phase 2
Tuesday, December 29, 2009Lukoil and Statoil signed an initial deal to develop the Iraqi supergiant West Qurna Phase 2 oil field, 16 days after the closure of the country's second postwar licensing auction.

Iraq Resumes Oil Exports After Pipeline Sabotage
Thursday, December 24, 2009Oil exports from northern Iraq resumed Thursday after a temporary halt due to the weekend sabotage of the pipeline to the Turkish port of Ceyhan, the oil ministry said.

Iraq to Rival Saudi Arabia in OPEC Oil Stakes
Wednesday, December 23, 2009A surge from Iraq's oil fields will occupy OPEC crude producers in coming years as the recovering country's output challenges that of Saudi Arabia, observers said as the cartel held its latest meeting.

Lukoil-Statoil Consortium Wins Bid for West Qurna 2
Monday, December 14, 2009Around 40 companies are prequalified for participation in Iraq's second licensing round held on December 11-12 in Baghdad. On the licensing round's second day, Lukoil and Statoil secured the winning bid for the gigantic West Qurna 2 field.

Iraq Ends 'Successful' Oil Bid Round, Output Seen Tripled
Monday, December 14, 2009Iraq concluded Saturday its second post-war licensing auction of 10 groups of oil fields, seven of which were awarded and are expected to boost the country's production to 4.765 million barrels a day.

Shell-Petronas Consortium All Smiles Over Majnoon
Friday, December 11, 2009The Iraqi Ministry of Oil today awarded Shell and Petronas Carigali a contract for technical assistance in developing the Majnoon field, subject to ratification by the Iraqi authorities.

Iraq Plans Tight Security to Protect Oil Bid Round Venue
Tuesday, December 08, 2009Tight security measures will be imposed at the Iraqi oil ministry later this week when international oil companies bid for licenses for some of the country's prized oil and gas fields.

Iraq's Giant Majnoon Oil Field to Top Friday's Auction
Monday, December 07, 2009Iraq's super-giant Majnoon will be the first in the 10 groups of oil and gas fields the country is offering to international oil companies in its second post-war licensing auction.

Iraq Issues Biding Rules for 2nd Licensing Auction
Monday, November 23, 2009The Iraqi oil ministry has released bidding rules and final model contracts for Iraq's second post-war oil licensing auction to develop some of the country's prized fields with estimated proven reserves of more than 35 billion barrels.

Iraqi Lawmakers Question Recent Oil Deals
Monday, November 09, 2009A handful of lawmakers from the Iraqi parliament's oil and gas committee on Sunday questioned the legality of petroleum-development deals inked last week with BP, ExxonMobil and other big oil firms.

Eni Signs Initial Pact to Develop Iraq's Zubair Field
Monday, November 02, 2009A consortium led by Eni Monday signed an initial 20-year agreement with Iraq to develop the giant Zubair oil field in southern Iraq, an Iraqi oil ministry official said.

Iraq to Sign Rumaila Field Deal with BP, CNPC Nov 3
Thursday, October 29, 2009The Iraqi Oil Ministry will sign a deal worth billions of dollars with BP and CNPC next Tuesday to develop Rumaila, Iraq's largest producing oil field.

Iraq Sweetens Oil Field Terms, Attracts Interest
Monday, October 19, 2009Iraq is sweetening the terms for companies bidding for its prized oil fields as it attempts to avoid the so-called failure of its first bidding round.

Shell Renegotiates with Iraq for Kirkuk Field Rights
Friday, October 16, 2009Shell is reportedly renegotiating with Iraq about the Kirkuk oil field, one of Iraq's largest oil producing areas, after it didn't win access to the field in the country's first licensing auction held in Baghdad in June.

Companies Ease Demands on Iraqi Oil Field Rights
Wednesday, October 14, 2009Several oil companies that rejected tough terms in the country's first auction for oil-field rights this summer have dropped their demands for higher payouts.

TNK-BP Mulls Entry into Iraq to Develop Hydrocarbons
Tuesday, October 13, 2009TNK-BP is considering possibilities of developing hydrocarbon resources in Iraq, where the company currently does not have any activities or operations.

Eni Wins License for Giant Iraqi Oil Field in First Round
Tuesday, October 13, 2009An Eni-led consortium won the license for the development of the Zubair giant field in Iraq, following a successful first round bid. Under its expansion program, Zubair is expected to reach a plateau level of 1.125 million barrels of oil per day.

BP, CNPC Seal Deal for Billon-Dollar Rumaila Development
Friday, October 09, 2009BP and CNPC signed an initial agreement with Iraq to develop Rumaila, Iraq's largest producing oil field, paving the way for a final deal calling for investment estimated at as much as $15 billion.

Lukoil Ready to Hold Talks Over Oil Project on Iraqi Terms
Thursday, October 08, 2009Lukoil is ready to take part in the West Qurnah-1 project on the Iraqi Oil Ministry's terms, the head of the company, Vagit Alekperov, reported to journalists on Thursday.

BP Gives CNPC Bigger Rumaila Oil Field Stake
Friday, October 02, 2009BP is giving its partner China National Petroleum Corp. a larger share of equity in a project to develop Rumaila, Iraq's largest producing oil field.

Iraq Bans Sinopec from 2nd Licensing Round
Wednesday, September 30, 2009Iraq has decided to ban Sinopec from its second oil and gas bidding round because the Chinese state firm has yet to abandon a contract in Iraq's northern Kurdistan region inherited from its purchase of Addax.

Biden Calls on Iraq to Lower Sights in Oil Bidding
Thursday, September 17, 2009U.S. Vice President Joe Biden has reportedly urged Iraq to offer more generous terms at its next auction for oil concessions in the oil-rich country.

UPDATE: Iraq Oil Minister Says No Delay for Shell Gas Deal
Wednesday, September 09, 2009Iraqi Oil Minister Hussein al-Shahristani said Wednesday that the country has no intentions of putting a multibillion dollar agreement with Shell on the back burner.

Iraq May Delay Shell Gas Deal Until '10
Tuesday, September 08, 2009A multibillion dollar deal between Shell and the Iraqi government to jointly develop domestic gas infrastructure could be delayed until after the country's elections in January.

Mitsubishi Joins South Gas Utilization Project in Iraq
Tuesday, August 25, 2009Mitsubishi has accepted the Iraqi Oil Ministry's invitation to join the proposed South Gas Utilization Project currently under development by the Ministry and Shell.

Iraq Proposes Better Terms for Second Oil Bid Round
Tuesday, August 25, 2009Iraq has proposed better terms for contracts in its second oil bidding round than the previous one, Iraqi oil officials and executives from companies involved in talks on the deals said Tuesday.

Iraq Hopes to Sign Rumaila Deal in September
Wednesday, August 19, 2009Iraq aims to sign a contract for the giant Rumaila oil field with BP and China National Petroleum Corp. in September.

Iraq Cabinet OKs Law Establishing National Oil Co
Tuesday, July 28, 2009The Iraqi cabinet Tuesday approved a law providing for the establishment of a national oil company for the first time in decades.

Iraq to Hold Roadshow Aug 25 on 2nd Round Oil, Gas Deals
Monday, July 27, 2009Iraq's Oil Ministry will hold a roadshow in Istanbul next month to brief international companies on a list of oil and gas fields to be offered later this year.

BP, CNPC Submit Iraq Rumaila Oil Field Plan
Wednesday, July 22, 2009The Iraqi Oil Ministry has received an initial development plan from the BP-led consortium that won the rights to the country's giant Rumaila oil field in June.

Iraq Optimistic About 2nd Licensing Round in December
Friday, July 10, 2009Iraq is satisfied with the results of its first licensing round and believes international oil companies aren't discouraged from bidding in the second round scheduled in December.

Japan Hopes for Stakes in Iraq Nassiriya Oil Field
Thursday, July 09, 2009Japan reiterated Thursday its hope to get a stake in Iraq's Nassiriya oil field.

Mesopotamia Petroleum Works with Govt to Rectify Termination of Iraqi JV
Wednesday, July 08, 2009Following the deadline for confirmation of funding, Iraqi Drilling Company terminated its joint venture agreement with Mesopotamia Petroleum, which is now working with government officials to secure an extension and resolve the situation.

China Oil Cos Eyeing Iraq's 2nd Round Oil, Gas Auction
Tuesday, July 07, 2009China's state-owned oil companies are eyeing a second round of auctions of major untapped oil and gas fields in Iraq later this year, but commercial terms are still key.

Shell, Iraq Gas Deal Progressing, Cabinet To OK Study
Tuesday, July 07, 2009Iraq's multibillion dollar deal with Shell to jointly develop domestic gas infrastructure is progressing, with a feasibility study being submitted for the cabinet's approval.

Iraq Asks 1 Co to Revise Nassiriyah Oil Field Bid
Monday, July 06, 2009The Iraqi oil ministry has asked one company, out of three running for the race to win Nassiriyah oil field, to revise its offer before the ministry could award it the multi-billion-dollar deal.

Iraqi Oil Ministry to Move Up Second License Bid Round
Thursday, July 02, 2009Emboldened by its first licensing round, Iraq's Oil Ministry has moved up a second auction that was to be held at the end of this year for 11 oil and natural-gas fields.

Oil Cos Reject Iraq's Contract Terms
Wednesday, July 01, 2009Iraq awarded a BP-led consortium the right to develop the giant Rumaila oil field but failed to strike deals for seven oil and gas fields as companies balked at the country's contract terms.