Iraq, Schlumberger Sign Deal to Drill 40 Wells at Majnoon Oilfield
The Iraqi Oil Ministry has announced signing a deal with Schlumberger to drill 40 wells in the giant Majnoon oilfield.
The Iraqi Oil Ministry has announced signing a deal with Schlumberger to drill 40 wells in the giant Majnoon oilfield.
The oil production from Halfaya oilfield in Iraq has increased by 100,000 barrels per day (b/d) and the total production has reached 370,000 b/d.
Iraq oil exports from Kirkuk could reach 400,000 barrels per day (b/d), up from 300,000 b/d before production was halted in 2017.
Iraq has restarted exporting oil from Kirkuk after being interrupted for a year due to conflicts between the central government in Baghdad and the Kurdistan Regional Government.
A newly-formed committee of experts are due to visit the Iraqi parliament to address the resumption of oil exports from Kirkuk through the Kurdistan region.
The US has granted Iraq a 45-day waiver from its sanctions on Iran in order to import natural gas and electricity supplies.
Iraq is planning to increase its output and exports of crude in 2019, Iraqi Oil Minister Thamer Ghadhban has said.
The US has granted eight Iranian oil importers temporary waivers from the sanctions set to be imposed upon the country’s energy sector on November 5.
The Iraqi oil ministry aims to increase the country’s oil production capacity and further support foreign oil companies to overcome bureaucratic hurdles.
Iraq plans to stop exporting crude from its northern Kirkuk oilfield to Iran in November in compliance with US sanctions placed on the Iranian energy industry.