Latest news with #MidlandOilCompany
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)
Iraqi News
20-05-2025
- Business
- Iraqi News
East Baghdad field to start producing oil and gas in 2026
Baghdad ( – The Head of Operations for the Southern Region in Iraq's Midland Oil Company (MOC), Firas Fawzi, revealed on Tuesday that the East Baghdad field will start producing gas in September 2026. In a statement to Shafaq News, Fawzi elaborated that the East Baghdad field's oil production is expected to reach 120,000 barrels per day by June 2026, suggesting that the gas production phase will begin afterwards. Gas production in the East Baghdad field is anticipated to begin in September 2026, with an expected output ranging between 25 and 50 million cubic feet per day, according to Fawzi. As part of a plan to drill 18 oil wells in the southern part of the East Baghdad field, the state-owned Iraqi Drilling Company (IDC) announced in February that drilling had begun in the first well. The Iraqi Ministry of Oil said in a statement that the step is part of the ministry's strategic goals and collaborative efforts with the Chinese company EBS to support and develop the country's oil sector. An enormous discovery just raised the reserves of the East Baghdad field, one of Iraq's most significant oil resources, to 15 billion barrels. This discovery enhances Iraq's position as one of the world's top oil producers and creates new avenues for output expansion and revenue generation. In collaboration with the Chinese oil company EBS, Iraq's Midland Oil Company (MOD) said in January that two billion more barrels had been found in the oil field. Given that this discovery represents the largest expansion in central Iraq's crude oil reserves in decades, the energy industry is paying close attention to it. Several studies are being done to develop strategies to maximize productivity and use this important resource. This finding raises the overall reserves of the East Baghdad field to 15 billion barrels, up from 13 billion barrels before the latest discovery, according to Mohammed Yassin Hassan, director general of the state-run MOC. The discovery is a major step that supports the Iraqi oil sector and increases national income since the oil field is considered the largest in central Iraq.
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.
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
