Latest news with #OilExplorationCompany
Iraq Business
17 hours ago
- Business
- Iraq Business
Oil Exploration Company Completes 2D Survey in Nineveh
By John Lee. Iraq's Oil Exploration Company (IEC) has successfully completed the two-dimensional "Hadhab" seismic survey in Nineveh province. The project, carried out by the Eighth Seismic Team of the Field Operations Directorate, covered 1,691.9 km and included 33,876 energy points. According to a statement from the Ministry of Oil , this was accomplished despite challenging geographical and logistical conditions. The team adhered strictly to approved technical and environmental standards, marking a significant milestone in bolstering Iraq's energy exploration capacity. Osama Raouf Hussein, Director General of the Oil Exploration Company, praised the professionalism and dedication of the Eighth Seismic Team, calling their work an example of teamwork and ambition aligned with the sector's future needs. He reaffirmed support for all seismic teams, describing them as the cornerstone of exploration operations, and pledged to overcome all obstacles to ensure project efficiency, safety, and timely delivery. This milestone is expected to significantly contribute to the national economy by enhancing Iraq's hydrocarbon reserves and offsetting depletion. (Source: Ministry of Oil)
Iraqi News
25-03-2025
- Business
- Iraqi News
With a 100% national cadre, oil exploration: We possess modern technologies that rival international companies
Baghdad-INA The Oil Exploration Company (OEC)announced on Tuesday that it possesses modern global technology comparable to that of international companies. It also indicated a five-year plan for exploration and determining the size of oil reserves. The company's general manager, Osama Raouf, told the Iraqi News Agency (INA): "The Oil Exploration Company is the only company in Iraq that explores oil and gas sites throughout Iraq from north to south," indicating that "the size of Iraqi explorations in relation to reserves is measured through a five-year plan and an annual plan, as the plans are measured in relation to the size of reserves in Iraq. The larger the exploration plan, the greater the percentage of reserves in Iraq." He added, 'The Oil Exploration Company is equipped with global technology that competes with the most advanced systems used by international firms.' He also emphasized that 'the company operates with a fully national workforce, demonstrating the expertise and capabilities of Iraqi professionals. While we do not rely on foreign experts, our technology enables us to match the performance of leading exploration companies worldwide.'
