Posts Tagged ‘Tatneft’
27 February 2003
Unfazed by the current US military buildup and the potential risk to rigs from air raids or invading forces, Iraq’s Oil Drilling Co. (ODC) is forging ahead with drilling across the country’s oil fields in an attempt to beat its record of last year.
But separate activities by foreign drillers under the UN’s oil-for-food program have been hit by the threat of war, with international companies either withdrawing or preparing to do so.
In 2002, ODC — one of 15 companies under the umbrella of the oil …
21 February 2003
Unfazed by the prospect of an imminent war, Iraqi oil officials are forging ahead with a 10-year plan drawn up last year, which aims to bring on stream early oil production from discovered but not-yet-developed fields, as well as launch an ambitious oil and gas exploration program to boost proven reserves.
The 10-year plan, which stretches through 2012, aims at almost doubling oil production capacity in the first six to seven years, from a current official level of 3.2 million barrels per day to 6 million b/d, …
28 February 2003
In talking about possible war against Iraq, Bush administration officials insist that their main objective is not to get their hands on the country’s massive oil reserves. But post-war, fierce competition is almost bound to erupt between US oil firms that have been kept off-limits by the Iraqis, and those — including Russian, Asian, and European companies — that either have firm contracts with the current regime or have negotiated but not signed deals.
Right now, six companies hold exploration or development contracts. Indian state Oil and …