Latest news with #BassemMohammedKhudair


Zawya
23-07-2025
- Business
- Zawya
Iraq signs gas field deal with Schlumberger
Iraq has signed a new agreement with US energy giant Schlumberger to ramp up production at the Akkas, the Middle East's second-largest gas field. Oil Minister Hayan Abdul Ghani described the deal as central to Iraq's gas strategy, with Schlumberger set to drill new wells to initially produce 100 million standard cubic feet per day (mmscfd), targeting 400 mmscfd long-term. The contract, which replaces a previous deal with a Ukrainian firm, also covers surface infrastructure and pipeline construction to connect Akkas in Al-Anbar province to central processing units and power the al-Anbar Power Station now under development. Abdul Ghani urged Schlumberger to meet all deadlines, underscoring Iraq's urgent need to expand gas production. Schlumberger's Integrated Projects President, Gokhan Yarim, welcomed the partnership and pledged full compliance with the schedule while reaffirming the company's long-term commitment to Iraq. Deputy Oil Minister for Extraction Affairs Bassem Mohammed Khudair praised the deal as a strategic leap that combines domestic capabilities with global expertise, citing Akkas and Mansuriya as top priorities for cutting gas flaring and raising output. (Writing by Nadim Kawach; Editing by Anoop Menon) (


Shafaq News
22-05-2025
- Business
- Shafaq News
Iraq, Gazprom ink deal to boost Badra oil and gas output
Shafaq News/ Iraq's Midland Oil Company (MdOC) signed the first amendment to the Badra oil field service contract on Thursday with Russia's Gazprom and its consortium partners, to increase oil and gas production from the field. The signing ceremony was attended by Deputy Oil Minister for Extraction Affairs Bassem Mohammed Khudair, Russian Ambassador to Baghdad Elbrus Kutrashev, and several senior officials from Iraq's oil sector. Khudair emphasized the Oil Ministry's commitment to sustaining production operations across national oilfields and supporting the work of international companies operating in Iraq. MdOC Director General Mohammed Yassin said the amendment is intended to raise production rates during the remaining term of the contract, thereby maximizing state revenues.


Iraq Business
22-05-2025
- Business
- Iraq Business
Gazprom Signs Amendment to Badra Oilfield Service Contract
By John Lee. Russia's Gazprom and its consortium partners have signed the first amendment to the service contract for the Badra oilfield with Iraq's Midland Oil Company (MdOC). The signing ceremony, held on Thursday, was attended by Bassem Mohammed Khudair, Deputy Minister for Upstream Affairs; Russian Ambassador Elbrus Kutrashev; the Director General of Dhi Qar Oil Company (DQOC); the Director General of the Petroleum Contracts and Licensing Directorate (PCLD); the Director General of the Reservoirs and Field Development Directorate; and the Deputy Director General of the Technical Directorate. Khudair affirmed the Ministry's commitment to supporting production continuity in Iraq's oilfields and to facilitating the work of international oil companies operating in the country. Mohammed Yassin, Director General of Midland Oil Company, said that the company is working with the contractor to boost production rates within the remaining term of the contract to enhance state revenues. According to a statement from the Ministry, the amended contract includes provisions on gas production and expected financial returns for the remaining life of the project, but no details were provided. (Source: Ministry of Oil)


Iraq Business
03-05-2025
- Business
- Iraq Business
Seismic Survey of Naft Khana Field Completed
By John Lee. The Iraqi Oil Exploration Company has completed a seismic survey of the Naft Khana oil field in Diyala province, achieving the milestone in record time, according to the Ministry of Oil. The announcement was made during a ceremony on Thursday, which also coincided with International Workers' Day. Representing the Minister, Deputy Minister for Extraction Affairs Mr. Bassem Mohammed Khudair highlighted the Ministry's commitment to advancing exploration projects, calling this achievement a critical step in reinforcing Iraq's regional and international standing in oil and gas exploration. The event was attended by senior figures including the Director General of the Midland Oil Company (MdOC), the Director General of the Reservoirs and Field Development Department, members of parliament, security leaders, and representatives from China's Geo-Jade Petroleum, the field's project partner. Dr. Osama Raouf Hussein, Director General of the Oil Exploration Company, commended the technical and engineering teams of Seismic Teams 1 and 6 for executing the project as part of Iraq's fifth licensing round. He noted that the teams overcame harsh environmental conditions in the rugged Hamrin mountain range, including deep valleys, unstable weather, and the presence of unexploded ordnance. The ceremony concluded with awards and certificates presented to the teams in recognition of their exceptional efforts. (Source: Ministry of Oil) Tags: cg, China, Diyala, featured, Geo-Jade Petroleum, Hamrin, Iraqi Oil Exploration Company, Midland Oil Company, Naft Khana field, Nafthkhana oil field, oil exploration, seismic surveys


Zawya
27-03-2025
- Business
- Zawya
Iraq to speed up development of 2 gas fields
Iraq is seeking to speed up the development of its Akkas and Mansouriya gas fields to meet rising domestic energy needs, a senior oil official has said. Bassem Mohammed Khudair, Iraq's Deputy Oil Minister for Extraction, emphasized the urgency of investing in the two fields during a visit to the Midland Oil Company, where he reviewed ongoing production projects and infrastructure development, according to a ministry statement. The Mansouriya gas field holds an estimated 4.5 trillion cubic feet of natural gas and could produce over 300 million cubic feet per day if fully developed, he said. Last month, Iraq's cabinet authorized the Oil Ministry to sign a development contract for the field with a consortium led by China's Jereh Group and Petro Iraq. Previous agreements with other foreign firms, including Chinese and Turkish companies, had stalled without explanation. Iraq has four major non-associated gas fields: Akkas in Al-Anbar, Mansouriya in Diyala, Siba in Basra, and Khor Mor in Al-Sulaymaniyah. In mid-2023, Baghdad signed four contracts with France's TotalEnergies to boost oil and gas production. The urgency to secure domestic gas supplies has intensified after US President Donald Trump revoked Iraq's sanctions waiver for importing electricity and gas from Iran. For years, Iraq has relied on Iranian energy imports, particularly during peak summer demand, benefiting from repeated US exemptions. In response, Baghdad has sought alternative sources, including a deal to import gas from Turkmenistan. However, the arrangement, which involves routing gas through Iran, has faced logistical and financial hurdles, delaying implementation. (Writing by Nadim Kawach; Editing by Anoop Menon)