17 October 2008 Iraq finally unveiled the terms of its big upstream opening. International oil companies now realize that to win a 20-year service contract to rehabilitate and redevelop some of Iraq’s giant oil fields, they need to offer it high production targets at the lowest cost. For committing to spend money on rehabilitation of infrastructure and drilling of wells as well as a new reassessment of recoverable reserves in…
Tag: ministry
Iraq Sets Up Reservoir Data Center as Studies Get Under Way
18 February 2005 Iraq’s oil ministry has launched its first reservoir study center, as it gears up to work with international companies BP, Exploration Consultants Ltd. (ECL) and Royal Dutch/Shell on landmark reviews of its key Rumaila and Kirkuk oil fields, according to an Iraqi oil official. The center, established by the ministry’s reservoirs and field development department, is the first in Iraq, and has already been equipped with workstations…