The execution of the 300,000b/d refinery project in Basra’s Faw (Fao) is according to the methods of build–operate–transfer (BOT) or build–own–operate–transfer (BOOT), as well as to the investment law of the refineri ...
Iran began pumping 15,000b/d of crude oil from Azar oilfield, which it shares with Iraq. Azar development project is aimed at production of 65,000b/d of crude oil.
Russian oil giant Lukoil is targeting new projects in the United Arab Emirated (UAE), Iran, Oman and Kuwait as it plans to expand its operations in the Middle East.
Iraq's Kurdistan has increased the loans guaranteed by future oil sales to $3b in new deals with trading houses and Russian state oil firm Rosneft aimed at strengthening its fiscal position.
Rosneft group started drilling of the first exploration well at Block 12 in the Republic of Iraq. The company plans to complete drilling the Salman-1 well in July 2017.