Posts Tagged ‘Bin Umar’
South Oil Co (SOC) Director General Dhiya Jaafar gives an update on the state of Iraqi oil production, infrastructure expansion and ongoing projects and problems in an interview with Ruba Husari Nov. 1st, 2010, in his office in Basrah.
Q: How do you explain the continued decline in production at Rumaila oil field where BP was the first to sign a development contract, precisely to arrest the decline and increase output?
A: The decline is natural and it has been going on for some time. The new contracts aim at …
4 July 2002
Iraq is developing its oil fields with or without foreign help — including the giant fields promised to companies such as France’s Total Fina Elf and Russia’s Lukoil. But the firms are always welcome to hop on board, Iraqi Oil Minister Amer Rashid says.
Under a “national effort” launched in 1999, Iraq brought the giant southern Majnoon oil field on stream last year, Rashid says. The field was supposed to be developed by Elf Aquitaine — now part of Total — under a production-sharing contract. But after …
25 February 2000
Iraq has finally started negotiations on its first modified buyback agreements, offering contracts with an average term of 12-15 years to a number of Asian companies – including Malaysia’s Petronas, which is discussing a deal for the 200,000 b/d Ratawi field.
Iraq believes buyback contracts may prove easier to implement than production-sharing contracts (PSCs) once United Nations sanctions prohibiting investment are lifted. “We want something we can really implement and we think the old type of contracts [PSCs] are more complicated in the present circumstances,” says an …