Latest news with #MidlandOilCompany
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)
Iraqi News
07-07-2025
- Business
- Iraqi News
Iraq increases Diwaniyah refinery's capacity to 90,000 bpd
Baghdad ( – The Iraqi Minister of Oil, Hayan Abdul-Ghani, confirmed on Monday that the government started adding a refining unit with a capacity of 70,000 barrels per day to the Diwaniyah refinery. The step will increase the refinery's production capacity to 90,000 barrels per day, according to a statement cited by the state-run news agency (INA). The five-year project is designed to expand Iraq's capacity to produce oil derivatives, cover local fuel demand, and achieve self-sufficiency. The initiative is part of the Iraqi government's attempts to modernize the oil sector, enhance product quality, and increase output. Under a deal worth $800 million, the Diwaniyah refinery in Iraq is undertaking a significant expansion project. The upgrade includes units for liquefied gas processing, naphtha hydrotreating, gasoline upgrading, and isomerization, as well as other critical service facilities. In February, Iraqi Prime Minister Mohammed Shia Al-Sudani attended a ceremony to sign a deal between the state-owned Midland Oil Company (MOC) and a local private company to modernize the Diwaniyah refinery.
Iraqi News
23-06-2025
- Business
- Iraqi News
Iraq opens new solar power plant in East Baghdad oilfield
Baghdad ( – In a step aiming to integrate renewable energy into oil fields, Iraq inaugurated on Sunday a new solar power plant in the East Baghdad oilfield. Director of Iraq's Midland Oil Company, Mohammed Yassin Hassan, attended the inauguration event, as did officials from the Chinese company EBS, the field's operator, according to a statement released by the Iraqi Oil Ministry. Hassan noted that the initiative is a promising start for future projects aiming to increase the use of solar energy throughout all of the company's oil fields, thus decreasing carbon emissions and shifting toward sustainable energy in accordance with government environmental objectives. The new solar power facility has 2,338 solar panels and a total output capacity of about 1.3 megawatts, which is enough to power certain EBS and Midland Oil Company facilities. While reducing carbon emissions by 2,640 tons, the project also saves approximately $720,000 annually, a cost that would have been associated with traditional power generation. The project is part of initiatives to increase solar energy in Iraq, which have gained growing momentum in the past few years. The Iraqi government aims to include renewable energy sources, notably solar energy, into the national power grid to minimize reliance on fossil fuels and improve energy security.
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)
