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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq revives its oil wealth with an agreement to drill 131 new wells

    Rocky
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    Iraq revives its oil wealth with an agreement to drill 131 new wells Empty Iraq revives its oil wealth with an agreement to drill 131 new wells

    Post by Rocky Tue 17 Aug 2021, 7:42 am

    Iraq revives its oil wealth with an agreement to drill 131 new wells


    Baghdad - the new morning:
    An official in the Iraqi oil sector revealed that his country has signed contracts with foreign oil companies operating in the oil sector to drill 131 new oil wells.
    This comes within the framework of Iraq's future plan to raise crude oil production capacities to 8 million barrels per day by the end of 2027.
    Basem Abdel Karim, Director General of the Iraqi Drilling Company at the Ministry of Oil, told the Iraqi newspaper, "Al-Sabah" issued today, Sunday, that Iraq signed with foreign oil licensing companies and the effort Direct contracts to drill 131 new oil wells and reclaim dozens of currently producing oil fields in the governorates of Kirkuk, Baghdad, Basra, Maysan and Nasiriyah in the north, center and south of the country.
    He stated that these contracts come within the framework of a long-term plan to increase crude oil production capacities in Iraq to reach 8 million barrels per day by the end of 2027.
    He explained that the companies that were contracted to drill oil wells are the Italian company Eni in the Zubair oil field, the British company BP in the West Qurna field, and the Chinese company Cinoc, the operator of the Bazargan field east of Maysan, in partnership with the Chinese company Bohan.
    The official added, "The Iraqi Drilling Company is currently implementing a plan to drill 20 oil wells in the Nasiriyah field in the Al-Kataa area, north of Dhi Qar, with the participation of the American company Weather Ford, to enhance the strategy to escalate production and export energy in the future, and to resume work in the Al-Gharraf field east of Dhi Qar for the benefit of the Malaysian operator Petronas. for the field.
    He added that the Iraqi Oil Wells Drilling Company enjoys the support of the Ministry of Oil to develop its capabilities and make it able to resume negotiations and work with foreign oil companies operating in the country to enhance Iraq's oil capabilities, especially after the countries' economies recover and lift restrictions imposed on public activities in many industrialized countries.
    In early August, the Iraqi Ministry of Oil announced the total exports and revenues generated for the month of last July, according to the statistics issued by the Iraqi Oil Marketing Company "SOMO".
    The amount of crude oil exports amounted to (90) million (467) thousand and (794) barrels, with revenues amounting to (6) billion (513) million and (792) thousand dollars.
    The statistics indicated that the total quantities exported of crude oil for the month of last July from oil fields in central and southern Iraq amounted to (87) million and (455) thousand and (359) barrels, while from the Kirkuk fields through Ceyhan port, the exported quantities amounted to ( 3) One million (12) thousand and (435) barrels.
    The average daily quantities amounted to (2) million and (918) thousand barrels per day, while the average price per barrel amounted to (72.001) dollars.

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    chouchou
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    Iraq revives its oil wealth with an agreement to drill 131 new wells Empty Re: Iraq revives its oil wealth with an agreement to drill 131 new wells

    Post by chouchou Wed 18 Aug 2021, 4:08 am

    Could someone help me to understand please. We can see article saying the economic reforms have started based on the white paper and now this article saying foreign companies will start drilling wells but for this to happen Iraq need to be article 8 (meaning no more sanctions) for foreign companies to invest?

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    Diamond
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    Iraq revives its oil wealth with an agreement to drill 131 new wells Empty Re: Iraq revives its oil wealth with an agreement to drill 131 new wells

    Post by Diamond Wed 18 Aug 2021, 7:54 am

    chouchou wrote:Could someone help me to understand please. We can see article saying the economic reforms have started based on the white paper and now this article saying foreign companies will start drilling wells but for this to happen Iraq need to be article 8 (meaning no more sanctions) for foreign companies to invest?
    chouchou, you got it figured out about article 8, when imf an un decide that iraq is art 8 they will remove sancations an offer them art8 an they have to accept with a formai letter of acceptance   THEN boogy down broadway  Dance banna2 banna3

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    jbowhunter
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    Iraq revives its oil wealth with an agreement to drill 131 new wells Empty Re: Iraq revives its oil wealth with an agreement to drill 131 new wells

    Post by jbowhunter Wed 18 Aug 2021, 12:49 pm

    So what is holding up IMF and UN from doing this?
    Diamond wrote:
    chouchou wrote:Could someone help me to understand please. We can see article saying the economic reforms have started based on the white paper and now this article saying foreign companies will start drilling wells but for this to happen Iraq need to be article 8 (meaning no more sanctions) for foreign companies to invest?
    chouchou, you got it figured out about article 8, when imf an un decide that iraq is art 8 they will remove sancations an offer them art8 an they have to accept with a formai letter of acceptance   THEN boogy down broadway  Dance banna2 banna3

    weslin3, chouchou and Diamond like this post

    Diamond
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    Iraq revives its oil wealth with an agreement to drill 131 new wells Empty Re: Iraq revives its oil wealth with an agreement to drill 131 new wells

    Post by Diamond Wed 18 Aug 2021, 3:27 pm

    mostly security factors

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