Latest news with #HayanAbdulGhani
Zawya
12 hours ago
- 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) (
Iraq Business
a day ago
- Business
- Iraq Business
Schlumberger to Develop Akkas Gas Field; Ukrainian Contract Cancelled
By John Lee. The Ministry of Oil has signed a contract with US-based Schlumberger to increase natural gas production at the Akkas gas field in Anbar province. Speaking at the signing ceremony, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, described the project as a major milestone in Iraq's gas development strategy. He confirmed that Midland Oil Company has been tasked with overseeing the implementation of the project, which targets increasing production at the field to 100 million standard cubic feet per day (mmscfd). The new contract follows the cancellation of a previous agreement with the Ukrainian company Ukrzemresurs. Minister Abdul Ghani said the project will include: Drilling new wells by Schlumberger; A forthcoming contract for the construction of surface facilities; A parallel contract with the State Company for Oil Projects (SCOP) to build a pipeline network linking wells to central processing units. to build a pipeline network linking wells to central processing units. The gas produced will be directed to the Anbar Combined Cycle Power Plant, currently under construction by the Ministry of Electricity. The Minister stressed the urgency of delivering the project on schedule, noting that the initial 60 mmscfd addition will bring the total processed volume to 100 mmscfd out of an expected full capacity of 400 mmscfd. Gokhan Yarim, President of Integrated Projects at Schlumberger, expressed satisfaction at signing the agreement and affirmed the company's commitment to the project timeline. Deputy Oil Minister for Extraction, Bassem Mohammed Khudair, said the deal reflects Iraq's commitment to ending gas flaring, expanding domestic gas production, and providing a secure investment environment in Anbar. He highlighted the project as a key step in the ministry's strategy to develop gas fields like Akkas and Mansouriya through national efforts, supported by international expertise. Mohammed Yaseen, Director General of Midland Oil Company, emphasised the strategic and economic dimensions of the project, noting the use of a new economic model and a more direct role for service companies. (Source: Ministry of Oil)
Shafaq News
a day ago
- Business
- Shafaq News
Iraq signs major deal with US Schlumberger to develop Akkas field
Shafaq News – Baghdad Iraq signed a new agreement on Tuesday with US energy giant Schlumberger to ramp up production at the Akkas gas field in al-Anbar—the Middle East's second-largest—aiming to boost domestic supply and relieve the country's worsening energy crisis. According to the Oil Ministry, Minister Hayan Abdul Ghani, who is also Deputy Prime Minister for Energy Affairs, described the deal as central to Iraq's gas strategy, with Schlumberger set to drill new wells alongside the Midland Oil Company 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 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. Midland Oil Director General Mohammed Yassin endorsed the initiative, highlighting its technical impact and its role in enabling direct cooperation between Iraqi firms and major international service providers.
Shafaq News
4 days ago
- Business
- Shafaq News
Iraq fast-tracks DS2 project at Majnoon oil field
Shafaq News – Basra On Saturday, the Iraqi Minister of Oil Hayan Abdul Ghani inspected the Majnoon oil field in Basra province to assess progress on projects implemented under national management. According to a statement by the ministry, Abdul Ghani reviewed progress at the DS2 processing station, which is 85% complete and expected to be finalized by the end of this year. DS2 refers to a processing facility located within major oil fields in Iraq, notably Rumaila and Majnoon. It plays a vital role in the early stage of production by separating oil, gas, and water extracted from underground reservoirs. During a meeting attended by members of parliament, he stressed that strategic development projects are essential for boosting crude oil output and advancing gas sector investment.
Iraq Business
15-07-2025
- Business
- Iraq Business
HKN Energy to Develop Iraq's Hamrin Oil Field
By John Lee. The Ministry of Oil has signed an agreement in principle with HKN Energy to develop the Hamrin field in northern Iraq. The agreement, signed on Tuesday between North Oil Company (NOC) and the US-based company aims to increase the field's output to 60,000 barrels per day, up from the current 20,000-25,000 bpd, and to capture and utilise 45-50 million standard cubic feet per day (mmscfd) of associated gas for power generation. Oil Minister Hayan Abdul Ghani highlighted the government's commitment to working with reputable American and Western companies to develop Iraq's oil and gas assets and enhance energy output in support of the national economy. He noted the importance of investing in associated gas to help power electricity generation stations. The agreement was signed in the presence of ministry officials, US Chargé d'Affaires Steven Fagin, and representatives from both companies. Fagin welcomed the partnership and expressed hope for more US business engagement in Iraq. North Oil Company Director General Amer Khalil said the agreement lays the foundation for a future development contract covering all wells in the field and aims to train local staff and provide gas to electricity plants. Matthew Zais, Vice President of HKN, said the company is proud to partner with the Ministry of Oil and aims to maximise the field's capacity while employing 80 percent Iraqi workers and contributing to local community development. Earlier in the day, HKN reported an explosion at its Sarsang operations in Iraqi Kurdistan. In May, HKN Energy and ONEX Group signed a binding term sheet with the Kurdistan Regional Government (KRG) to develop the Miran gas field through their new joint venture, Miran Energy. The KRG and Iraq's federal government have disagreed over the legitimacy of that contract. (Source: Ministry of Oil)
