Baker Hughes and General Electric signed a contract with the Iraqi government to process natural gas extracted alongside crude oil at the Nassiriya and Al-Gharraf oilfields in southern Iraq.
Egypt will receive its second crude oil shipment from Iraq in two weeks, an official at the Egyptian General Petroleum Corporation has said.
In accordance with the OPEC, non-OPEC agreement, spearheaded by Russia and agreed in early 2017 to cut supply and boost prices, Iraq is currently producing 4.4 million barrels per day (mb/d).
Some 16 companies, including Exxon, Chevron, and Total, have expressed interest in 11 Iraqi oil and gas fields, the bidding for which takes place on April 15.
Iraq exported 3.453 million barrels per day (mb/d) of crude oil from its southern ports in March, a slight increase from the numbers for February, which marked the third month in a downward trend.
Iraq may have double the current estimated amount of oil reserves, the country’s oil minister Jabar Al-Luaibi said.
A number of oil exporting countries have suggested a six-month extension to the supply cut deal agreed by OPEC and non-OPEC nations.
A senior Iraqi energy official has said that oil could be sent from Kirkuk in the north of Iraq to Iran's Kermanshah refinery in the coming weeks.
Iraqi President Fuad Masum stated on March 26 that Iraq supports OPEC’s agreement to cut oil output.
The Iraqi Ministry of Oil invited investors to submit proposals for the construction of an oil refinery in Anbar province, near the city of Haditha.
