ConocoPhilips today became the first lifter to load Iraqi crude from the newly opened SPM (single point mooring) in the Mideast Gulf. The new loading facility is now officially open, offering up to 500,000 b/d of export capacity on top of the 1.8 million b/d available at Basrah Oil Terminal and Khor al-Amaya Terminal. That’s more than enough to absorb the idle production capacity currently available in southern Iraq. The…
Tag: Exxon
BR 4: The New Incentives
Companies prequalified to bid for one of 12 blocks in Iraq’s upcoming fourth licensing round have since last week been poring over the adjusted terms introduced by Iraq’s oil ministry to the second version of the draft “exploration, development and production service contract” or EDPSC. The new terms offer incentives to companies based on comments and observations they provided to the petroleum contracting and licensing department. It took longer than…
Iraq Finally on World Gas Map
The Iraqi council of ministers has finally given its final stamp of approval today for the first gas deal of its kind in Iraq’s energy history based on the agreement initialized on July 12 between Royal Dutch Shell, Mitsubishi and South Gas Co, to capture and process flared gas in southern Iraq. This deal would put Iraq on the global gas map, something long due in view of the country’s…
ExxonMobil in KRG
The Blocks: 1. Al Qush: northwest of Erbil 2. Baeshiqa: southeast of Al Qush, south of Ain Sifni 3. Pirmam: north of Mala Omar 4. Betwata: east of Harir 5. Qara-Hanjeer: south-southwest of Chemchamal 6. Un-named Block 6: NNE of Arbat. Exxon Blocks Map- unofficial KRG Blocks Map