30 April 2008 The Iraqi oil ministry and Royal Dutch Shell aim to sign a preliminary agreement this summer to establish a joint venture to exploit associated gas and channel it for domestic use and export for at least 20 years, Iraqi and industry sources told International Oil Daily this week. Plans include building LNG export facilities. Industry sources estimate investment of $2 billion-$5 billion would be required over the…
Tag: exports
Two Years On, Iraq Output Still Struggling
9 March 2005 Almost two years after the US-led war ousted the Baath regime, Iraq is still struggling to meet prewar production levels at its dilapidated oil fields. Iraq’s southern oil fields, which accounted for the majority of prewar production of 2.8 million barrels per day, are currently managing just 1.85 million b/d — and even this rate is causing great distress to reservoirs, Iraq’s interim Oil Minister Thamer al-Ghadban…
Oil Board Firms Up in Iraq; Somo Shattered
1 May 2003 US plans to set up an advisory board to oversee Iraq’s oil sector are taking shape. Fadhil Othman, a retired Iraqi oil marketing official now living in Turkey, is understood to have accepted Washington’s request that he serve as deputy head of the oil advisory board, a non-executive body. In view of Othman’s past experience as head of Iraq’s State Oil Marketing Organization (Somo), he “could be…
Iraq Aims to Hike Capacity by End-2003, Despite Sanctions
10 July 2002 Iraq is aiming to increase its sustainable oil production capacity to 3.5 million barrels per day by the end of 2003, without help from foreign oil companies and assuming that UN sanctions remain in force for the foreseeable future, Iraqi oil ministry sources say. Iraqi Oil Minister Amer Rashid recently put current sustainable production capacity at 3.2 million-3.3 million b/d, although other estimates are lower. Under a…