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Energy

Taq-Taq aim is 180K bpd despite no export rights

Swiss-Canadian independent Addax Petroleum has reiterated goals of producing 180,000 b/d of oil from its Taq-Taq field in Iraqi Kurdistan within two years, despite the bulk of its current production capacity at the field being shut in for lack of export routes. During a company strategy presentation, Addax said that current production stood at 11,000–12,000 […]

IOCs invited to comment on Iraqi model contract

Iraq's Oil Ministry has sent out a model contract to IOCs pre-qualified to bid in its first licensing round, giving the companies the opportunity to comment on them until 1 April. "We had sent out to bidding companies on March 19 a semifinal version of the model contract," Abdul Mahdy al-Ameedi, deputy director-general at Iraq's […]

Iraqis need better Iraq, U.S. effort

New GAO report: Oil revenue surplus will cover budget deficit, but Iraqis in need of basics like water, while oil and electricity sector need billions of dollars.

Shahristani courting IOCs

Oil minister treks to France for big economic meetings, gets pat on the back by IEA, following big news on Statoil, others.

Iraq finalizes oil drilling joint venture with Mesopotamia Petroleum

A deal has been finalized creating a joint venture between the Iraq Drilling Co. and the British Mesopotamia Petroleum Co. It’s the first such joint venture in post-Saddam Iraq, and will likely be a template for future projects to bring foreign oil companies into the world’s third largest oil reserves. The Iraq Oil Service Co. […]