Latest news with #NorthOilCompany
Zawya
19-05-2025
- Business
- Zawya
Iraq revives 5 idle oil wells
A production boost of nearly 2,500 barrels per day (bpd) in the northern Jambur oil field in Kirkuk has been achieved through the rehabilitation of five previously idle wells, Iraq's North Oil Company has announced. In a statement, the company announced that wells 27, 42, 23, 20, and 69 were successfully brought back online after a series of technical inspections and operational adjustments to clear blockages and reopen valves. "The process was completed smoothly, in full compliance with the highest safety and quality standards,' it said. The statement said that the reactivated wells will contribute an additional 2,500 bpd to the field's output, significantly enhancing its overall production capacity. The Jambur North field produces between 10,000 and 15,000 bpd, though output levels fluctuate depending on operational conditions and the number of active wells. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Shafaq News
17-04-2025
- Business
- Shafaq News
Crude push: Iraq's Jambur field output tops 65,000 bpd
Shafaq News/ Iraq's North Oil Company (NOC) has successfully raised production at Kirkuk's Jambur oil field to more than 65,000 barrels per day (bpd), following the completion of critical well activation operations, a company official reported on Thursday. The official told Shafaq News that NOC teams had removed obstructions, acidized and cemented wells, and carried out key operations such as pipe testing and nitrogen treatment of processing units. 'These efforts directly helped restore production at several fields, including Bai Hassan, Kirkuk, Jambur, and others.' The company also launched a trial run of the crude oil dewatering unit at the Jambur station, using nitrogen gas—a safe and inert element—to test both sides of the processing units (A-B) and other feeding lines, as it is highly effective for inspecting pipes and facilities. 'The improvements are expected to boost production at the Jambur field dewatering unit by an additional 25,000 bpd, contributing to the field's overall output of 40,000 bpd,' he explained. Iraq has recently resumed production from 35 oil wells in Kirkuk Province as part of an output enhancement campaign. British energy giant BP had agreed to invest approximately $25B in redeveloping several oil and gas fields in the province, including the Jambur field, under a long-term contract.
Shafaq News
13-03-2025
- Business
- Shafaq News
Oil boom at Jambur: Output doubles
Shafaq News/ A joint Iraqi-Italian oil team increased crude output at the Jambur oilfield to 20,000 barrels per day (bpd), a source at North Oil Company said on Thursday. The source told Shafaq News that the trial operation of the wet oil station at the Jambur North field in cooperation with Italy's Mandressi company is set to take place in the coming weeks. The increase was attributed to the 'crucial role played by North Oil Company's engineering and technical teams in enhancing national output and supporting sustainable development of Iraq's oilfields.' The field's output has doubled from 10,000 bpd to 20,000 bpd, which in turn will lead to higher associated gas production. This increase is expected to support Iraq's power grid by supplying additional gas for electricity generation, the source pointed out. British BP
Shafaq News
10-03-2025
- Business
- Shafaq News
'Major achievement': Iraq, BP ink deal to boost Kirkuk oil output
Shafaq News/ On Monday, the Iraqi Ministry of Oil, represented by the North Oil Company (NOC) and the North Gas Company (NGC), signed a contract with British energy giant BP to develop the Kirkuk oil fields. In a statement, Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul-Ghani called the contract signing for the development of NOC fields a 'major achievement' for both the ministry and the company, especially after a period of stagnation. The development and rehabilitation efforts will boost national production, and increase gas investment and production to support electricity generation, he noted, emphasizing that "the ministry is focused on maximizing the state's oil and gas resources, which will positively impact the federal budget's financial resources.' The contract reportedly includes the rehabilitation and development of the four Kirkuk oil fields (the Baba and Avana domes, Bai Hassan, Jambur, and Khabbaz,) along with the rehabilitation and expansion of gas facilities at the NOC. Last week, a delegation from BP visited the North Oil Company's headquarters to finalize steps for rehabilitating the four fields. The Iraqi government, in February, signed an agreement with the British company to develop Kirkuk's fields and ensure 'the optimal utilization of energy resources.'
Iraqi News
26-02-2025
- Business
- Iraqi News
Iraq's mega project with BP to cover oil production and modernize facilities
Baghdad – Iraq and energy giant BP finalised an agreement to develop oil fields in the northern province of Kirkuk, Iraqi authorities and the British company said Tuesday. The mega-project covers petroleum production, the rehabilitation of existing facilities, the capture and use of natural gas produced alongside crude oil, and potential exploration projects. The agreement was signed between Iraq's state-owned North Oil Company and BP, Prime Minister Mohamed Shia al-Sudani's media office said. The deal, which is the result of extensive negotiations and several memorandums of understanding, involves 'the development of four major oil fields in Kirkuk: Bai Hassan, Kirkuk, Jambur, and Khabbaz'. It also includes the construction of a 400-megawatt power plant, the media office said. BP said in a statement that the final agreement with Iraq was 'for an initial phase and includes oil and gas production of more than three billion barrels of oil equivalent'. BP's statement did not put an overall value on the deal, but said the company's 'remuneration will be linked to incremental production volumes, price and costs'. The company is one of the biggest foreign players in Iraq's oil sector, with a history in the country dating back to the 1920s, when it was still under British mandate. According to the World Bank, Iraq has 145 billion barrels of proven oil reserves — among the largest in the world — amounting to 96 years' worth of production at the current rate. Iraq's Oil Minister Hayan Abdel Ghani told AFP in January that the project would increase the four oil fields' production to up to 500,000 barrels per day from about 350,000 bpd. He said that the project would also target gas flaring, the polluting practice of burning off excess natural gas released during oil drilling, which is cheaper than capturing the so-called associated gas. The Iraqi government has made eliminating the practice one of its priorities, with plans to curb 80 percent of flared gas before the end of 2025. Despite its tremendous oil wealth, Iraq depends on imports to meet its energy needs, and it hopes to increase natural gas production to reduce its reliance on neighbouring Iran, a crucial supplier of power.
