Latest news with #HayanAbdulGhani
Iraq Business
3 days ago
- Business
- Iraq Business
Iraqi Drilling Company to Spend $172m on New Equipment
By John Lee. The Iraqi Drilling Company (IDC) is set to expand its operations following a high-level meeting chaired by Bassem Mohammed Khudair, Deputy Minister of Oil for Upstream Affairs, at the company's headquarters. The session was held in line with directives from Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani. Attendees included Basim Abdul Karim Nasser, Director General of Basra Oil Company (BCO), IDC Director General Hassan Mohammed Hassan, and senior company officials. The Ministry reiterated its commitment to enhancing IDC's technical and operational capacity to increase revenue and its role in strategic projects. Deputy Minister Khudair confirmed that the Cabinet has approved a budget allocation of 250 billion Iraqi dinars (~$172 million) for the procurement of new drilling and workover rigs. He expressed gratitude to Prime Minister Mohammed Shia Al-Sudani and Minister Hayan Abdul Ghani for securing the approval and supporting IDC across all fronts. The Ministry plans to provide IDC with more drilling and workover projects and enable the company to enter partnerships with upstream operators to secure direct production shares-diversifying revenue streams. Khudair also emphasised the importance of adhering to occupational health, safety, and environmental (HSE) standards, intensifying training programmes, and upholding rigorous safety protocols. IDC's Director General outlined the company's technical and operational capabilities, noting that most operational challenges are being resolved. He praised the performance of national staff for their efficiency and dedication. Basra Oil Company's Director General also commended IDC's expertise, highlighting the spirit of national collaboration between oil sector companies and their role in delivering strategic projects that bolster Iraq's economy and production capacity. (Source: Ministry of Oil)
Shafaq News
24-07-2025
- Business
- Shafaq News
Basra launches new gas processing facilities to cut emissions
Shafaq News – Basra Iraq will end gas flaring by 2029, Oil Minister Hayan Abdul Ghani pledged on Thursday, as the government accelerates capture projects to cut emissions and curb import dependence. Speaking at the launch of the Central Processing Facility at Basra's al-Faihaa oil field, Abdul Ghani also introduced a new production line at the Basra Natural Gas Liquefaction (BNGL) plant, expanding capacity by a combined 330 million standard cubic feet (scf) per day. He noted that gas capture rates have climbed from 53% to nearly 70% under the current administration, positioning Iraq closer to its Paris Agreement targets and enhancing fuel availability for power generation. The minister also confirmed that Iraq has begun exporting both BNGL and condensates. Prime Minister Mohammed Shia al-Sudani, present at the event, denounced flaring as a long-standing 'energy failure.' He highlighted Iraq's current gas production of 1,000 million scf/day—equivalent to 3,500 megawatts of electricity—as a sign of progress, but warned that a 4,000-megawatt deficit persists, largely due to Iran's reduced gas deliveries under US sanctions. Al-Sudani also set a deadline of late 2027 to eliminate flaring entirely. In turn, Basra Gas Company Deputy Director Marfa Kazem al-Asadi stated the new CPF unit will deliver 1,000 tons of LPG and 170 million scf/day of dry gas to power plants, pushing Basra's total processing capacity to 400 million scf/day—up 40% from prior levels. Since its inception, Basra Gas has ramped output from 250 to over 1,000 million scf/day, meeting domestic demand and enabling exports while preventing more than 200 million tons of CO₂ emissions since 2016, al-Asadi reported.
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) (
Iraq Business
22-07-2025
- 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
22-07-2025
- 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.
