Latest news with #MdOC
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.
Shafaq News
13-05-2025
- Business
- Shafaq News
East Baghdad Field taps AI, eyes 120K bpd target
Shafaq News/ The East Baghdad oil field is projected to reach a production capacity of 120,000 barrels per day (bpd) by mid-2026, an official in Midland Oil Company (MdOC) told Shafaq News on Tuesday. The Head of Operations for the Southern Region, Firas Fawzi, revealed that the company approved the use of advanced technologies in the field, including artificial intelligence systems to optimize output and provide early alerts to operational issues. Production at the East Baghdad field, located in the Nahrawan area, reportedly began at just 1,500 barrels per day when it was handed over to the Chinese company EPS in 2018. 'Since then, output has steadily increased, reaching 60,000 bpd today, with projections to rise to 90,000 by September 2025 and 120,000 by June 2026,' he noted. Fawzi further pointed out that of the current output, approximately 25,000 barrels per day are supplied to the Dora refinery, while the remainder is directed to power stations, including the Wasit and Al-Quds thermal plants. 95 wells have been discovered at the East Baghdad field, with 58 of them currently in production.
