SLB’s Profit Exceeds Forecasts Due to Steady Demand for Oilfield Services
SLB’s performance improvement occurred due to stable demand for its services in certain international regions, which helped offset the slowdown in drilling operations in North America, Mexico, and Saudi Arabia. The company, the first among the major American oilfield service providers to release its report, had previously noted reduced activity …
Ankara Plans to Develop Gas Reserves on Bulgaria’s Continental Shelf
Turkey intends to sign an agreement next month that will allow the state-owned energy company Turkish Petroleum Corporation (Türkiye Petrolleri Anonim Ortaklığı, TPAO) and a foreign partner to conduct exploration activities in a section of the Black Sea located off the coast of neighboring Bulgaria, the Turkish Ministry of Energy …
Baker Hughes and Iraq to Sign Memorandum on Investments in the Country’s Gas Sector
The American oilfield services company Baker Hughes Co. is preparing to sign a memorandum on investments in the Iraqi gas sector, the office of Prime Minister of the Republic Mohammed al–Sudani said after his meeting with CEO Lorenzo Simonelli. The draft agreement includes plans for the construction of a gas …
Iraq Is Looking for American Investments
Iraqi Oil Minister Hayan Abdel–Ghani is traveling to the United States, where, among other things, he intends to offer American oil and gas companies to invest in the development of ten oil and gas blocks. Iraq is actively licensing its mineral resources and offering them to international investors. At least …
Iraq Wants to Reopen Mansuriya Gas Field
The Iraqi authorities have authorized the preparation of a deal on the previously mothballed Mansuriya gas field. The government announced this on May 4. Details of the preliminary contract participants: Midland Oil Company of the Ministry of Petroleum and a consortium consisting of the Chinese Jereh Group and Petro Iraq; …
China Will Explore Oil and Gas Fields in Iraq
Chinese companies are increasingly entering the oil and gas exploration market. They have already won five bids for exploration of Iraqi deposits – the only ones from foreigners, by the way. CNOOC Iraq has won the tender to develop Iraq’s Block 7 for oil exploration, which stretches across the country’s …
Iraq Sells Oil and Gas Fields for First Time since 2018
For the first time in the last 6 years, Iraqi authorities are holding a competition for the distribution of oil and gas licenses. More than 20 European, Chinese, Arab and Iraqi companies entered the competition, but not a single major oil company from the United States. Let us recall that …
Lukoil Signed an Additional Agreement with Iraq to Increase Oil Production
Lukoil has entered into an additional agreement on the West Qurna 2 project in Iraq, which provides for the extension of the service contract for ten years, until 2045, and a gradual doubling of the field’s capacity with a production plateau of 800 thousand barrels per day, the company reported. …
TAGRAS is Developing Connections with Foreign Partners
A delegation from the Arab Well Logging Company visited the TAGRAS Holding on a partner visit. The guests got acquainted with the production potential of the divisions and discussed the possibilities of cooperation. The working meeting of representatives of the Iraqi oil service company and the management of the TAGRAS …
Sinopec Pulled Out of Mansouriya Gas Project in Iraq
Chinese Sinopec has withdrawn from the Mansuriya gas field in Iraq, a representative of the Iraqi Ministry of Oil said at the presentation of blocks of new licensing rounds, writes Energy Intelligence. The Chinese company won the contract to develop the project with reserves of 4.5 trillion cubic feet in …