Iraq is set to witness a few firsts when it comes to how oil fields have been and are being developed around the world. After all, at no time in the history of the industry has so many oil fields of this size been developed all at once in such a short time span. One of the major firsts will no doubt be the Common Seawater Supply Facility (CSSF) which…
Tag: field development
CNPC Lands Service Contract for Iraq’s Al-Ahdab Oil Field
12 November 2008 State China National Petroleum Corp. (CNPC) is set to start work immediately on its 20-year service contract to develop Al-Ahdab oil field in central Iraq following a formal signing Monday in Baghdad, making it the first company to break ground in Iraq’s oil sector since the 2003 US-led war there. The deal was signed by CNPC head Jiang Jiemin and the director general of State Oil Marketing…
Solo Efforts
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…
Iraq Kicks Off Buyback Contract Negotiations
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…