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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq address "PetroChina" and "ExxonMobil" to invest in projects worth billions of dollars to increa

    Rocky
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    Iraq address "PetroChina" and "ExxonMobil" to invest in projects worth billions of dollars to increa Empty Iraq address "PetroChina" and "ExxonMobil" to invest in projects worth billions of dollars to increa

    Post by Rocky Tue 05 Jan 2016, 2:27 pm

    Iraq address "PetroChina" and "ExxonMobil" to invest in projects worth billions of dollars to increase its production from the Basra oil fields



    January 5, 2016 11:21
     



     
    A senior Iraqi official in the oil sector said that Iraq's second-largest oil producer in the Organization of Petroleum Exporting addressed "PetroChina" and "ExxonMobil" about investing in projects worth billions of dollars to increase production of small oil fields in the south of the country.
    He added the name of Abdul Karim, Deputy Director General of the South Oil Company, the state-run company that is seeking to attract investment from one or both of the two companies to build the necessary infrastructure to increase the production of the fields operated.
    Abizaid and "The Oil Ministry is looking for partners for the project integrated the south, with a committee formed by the Ministry of Oil and SOC between Exxon Mobil and PetroChina Contractors world and is currently under discussion."
    Abdul Karim said that "the South Integrated Project" includes the construction of oil pipelines and storage facilities and project sea water pump to inject water from the Gulf to boost pressure and boost production.
    He said that the project aims to enhance the production of oil fields to Heath, Nasiriyah, brick and river bin Omar and Alrtaoa.
    The total production of those fields currently 240 thousand barrels per day of crude oil and is planning the start of the Southern Oil Company to increase it to 350 thousand barrels per day in 2016.
    Iraqi oil official said the sharp drop in oil prices since mid-2014 has damaged the ability of Baghdad, on the financing of the development of oil fields and said that there is a need for foreign investment.
    "The current situation and financial possibilities of the country and disbursements need financiers we are going to study these things technically. Study of what is in reality fields and future projects .. After the technical picture for these fields is complete, there are also discussions and meetings on contractual and financial matters things."
    Another official said the South Oil Company, who asked not to be identified, said PetroChina showed more attention from the "Exxon" on the project.
    He added that he has to address the two companies since they were developing the first phase of West Qurna field, which needs to pump water to stop the decline in production.
    Oil sales and generate 95 percent of Iraq's revenues, which were badly damaged by falling oil prices below $ 40 a barrel from $ 115 in mid-2014.
    It will use sea water pumping project also overcome the problem of lack of production rates in the larger fields in size, such as West Qurna, Majnoon, Zubair, Rumaila run by major oil companies such as "BP" and "Royal Dutch Shell" and "Eni" and "Lukoil" which.
    Abdel Karim said "Sea water project is very important and complementary project to the fields of licensing rounds. Licensing rounds, including the fields is to provide the amount of water injected to the sustainability of production and rise to production of these fields. Including our fields as the fields of Rumaila, Zubair, West Qurna 1, West Qurna 2 and also from within the sea water project Maysan entered the field of process within the fields of Nasiriyah .. well .. therefore require large amounts of water. "
    And the disruption of Iraq's production for years because of wars and sanctions, but it began to rise in 2010 after Baghdad signed service contracts with companies including "BP" and "ExxonMobil" and "Eni" and "Royal Dutch Shell".
     
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