Exploration & Production
Iraq confident of producing 6.5mn bpd
- Details
The Iraqi Oil Ministry reiterated that the country was still on track to achieve a crude oil production target of 6.5 million bpd by 2014 despite a recent IMF report arguing that Iraq will see a lower output rise because of infrastructure challenges.
Lukoil to start oil production in Iraq by 2013
- Details
Lukoil which develops Iraq's West Qurna phase-2 oil field expects to begin production in 2013.
MB Group looking to acquire oil assets
- Details
MB Group invested around US$240-US$250mn last year in order to acquire new equipment for oil services companies and to enhance crude oil production of Petrogas.
US$2.6 billion pipeline awarded in Iran
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Iran has issued contracts worth US$2.6 billion to Khatam Al-Anbia, a company controlled by the Revolutionary Guards.
LUKOIL looking to the Middle East to boost reserves
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LUKOIL is looking into replacing its reserves over the medium term and is considering acquiring new assets to achieve this, including from the Middle East region.
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