Latest news with #BasimMohammedKhudair
Zawya
02-05-2025
- Business
- Zawya
Iraq develops new oil field
Iraq has completed 2D and 3D seismic surveys at the Naft Khana oil field in the Northeastern Diyala governorate, paving the way for exploratory drilling under the fifth licensing round, a senior Iraq oil official has said. Deputy Oil Minister for Extraction Affairs Basim Mohammed Khudair described the field as a 'promising site for oil and gas development,' He said the project, carried out by Iraqi technical teams on behalf of the Chinese firm Geo-Jade, is now entering the drilling phase, with plans underway to draft a full development strategy aimed at boosting national energy output. 'The government seeks to transform all provinces into oil-producing regions as part of a broader energy strategy, which also targets an end to gas flaring and expansion of current oil blocks,' he told local reporters on Thursday. Khudair revealed that Iraq is also finalising agreements to establish a floating terminal to diversify its gas supply sources. 'We are prepared to offset any decline in Iranian gas by activating new fields or importing through this terminal.' (Writing by Nadim Kawach; Editing by Anoop Menon) (
Shafaq News
01-05-2025
- Business
- Shafaq News
Beyond Iran: Iraq secures gas alternatives with new fields, terminal
Shafaq News/ Iraq has completed 2D and 3D seismic surveys at the Naft Khana oil field in Diyala, paving the way for exploratory drilling under the fifth licensing round, Deputy Oil Minister for Extraction Affairs Basim Mohammed Khudair announced Thursday. Speaking at a press conference, Khudair described the field as a 'promising site for oil and gas development,' stating that the project, carried out by Iraqi teams on behalf of the Chinese firm Geo-Jade, is now entering the drilling phase, with plans underway to draft a full development strategy aimed at boosting national energy output. 'The government seeks to transform all provinces into oil-producing regions as part of a broader energy strategy, which also targets an end to gas flaring and expansion of current oil blocks.' On the gas supply front, he revealed that Iraq is finalizing agreements to establish a floating terminal to diversify its sources, clarifying, 'We are prepared to offset any decline in Iranian gas by activating new fields or importing through this terminal.' Khudair also underscored the strategic importance of the Mansouriya gas field, which has been awarded for development, projecting production to exceed 400 million cubic feet per day
Iraqi News
23-03-2025
- Business
- Iraqi News
Iraq Plans to Boost Oil Production to Over 6 Million Barrels Per Day by 2029
Baghdad –INA Oil Ministry announced on Sunday plans to increase oil production to more than 6 million barrels per day (bpd) by 2029, while confirming an agreement with BP to develop four oil fields in Kirkuk. Deputy Oil Minister Basim Mohammed Khudair told the Iraqi News Agency (INA) that the ministry aims to expand oil and gas production capacities under a clear five-year plan, targeting an output exceeding 6 million bpd between 2028 and 2029. 'The ministry is working to achieve this goal through projects across all provinces, leveraging exploration activities by the Oil Exploration Company, as well as drilling and production operations under the six licensing rounds,' he said. Khudair highlighted the Integrated South Gas Development Project at the Artawi field as one of the key ongoing extraction projects. He also noted an agreement to develop four major oil fields in Kirkuk, with a final contract expected to be signed with BP in the coming days. He added that national extraction companies now handle 70% of operational activities.
Bloomberg
23-02-2025
- Business
- Bloomberg
Iraq to Receive 185,000 Barrels of Oil From Kurdistan as Exports Set to Restart
Iraq will receive around 185,000 barrels of crude oil a day from the semi-autonomous region of Kurdistan after exports resume via a pipeline to Turkey, a deputy Iraqi oil minister told the state-run Iraqi News Agency on Sunday without providing a time frame. Basim Mohammed Khudair said the halting of shipments from Kurdistan for nearly two years has left oil fields in the region in need of repair to restore their capacity to export 400,000 barrels per day, the lowest rate pursuant to Iraq's budget law.
