The Kurds will increase production to 1 MMbbl/d by the end of 2015 from a current level of 320,000.
Favorable geological characteristics combined with the supply-altering potential of massive discoveries are the region’s cash flow assurance.
Security strongholds remain in the country’s main oil-producing regions.
As sanction talks continue, Iran pushes to increase investment in its energy sector.
Pilot project in Oman reduces need for natural gas in thermal EOR.
The discovery was at the consortium's second target, the Yamama formation at 4,000 m (13,123 ft), in its Block 9 exploration well, Faihaa-1, located in Northern Basra in Iraq.
OGDCL has discovered hydrocarbon-bearing horizons in its exploratory well Jand # 01.
The Jisik-1 discovery well on the Harir Block encountered light oil and gas with condensates intervals in Jurassic and Triassic carbonate reservoirs.
TransAtlantic Petroleum Ltd. has completed a single-stage vertical frac of the Dadaş interval in its Bahar-6 well in the Molla area of southeast Turkey, the company said in a news release.
The exploration well LE-1 in the eastern part of Block 4 onshore the Sultanate of Oman has been suspended to allow for further studies in the future.
Iraq will double exports within weeks from its northern Kirkuk oil fields and continue boosting output farther south amid a global market glut that’s pushed prices to their lowest level in more than five and a half years.
Afren cut estimated reserves at a Kurdistan oil well by 80% and is deciding what to do with the field.
Wood Group Intetech has successfully completed a six-month project for MOL Group.
Installation work to connect three wells to the existing production facilities have been completed in Shaikan Block in the Kurdistan region of Iraq, according to a news release.
The number of oil producers in Kurdistan will slump by three-quarters in five years with the biggest in the industry taking control in the region, according to Genel Energy CEO Tony Hayward.
Oman joined Venezuela and Iran in questioning the group’s decision to keep its output target unchanged even with crude prices falling.
Polarcus Ltd.’s board of directors has chosen Rod Starr to succeed Rolf Ronningen as CEO of Polarcus.
Noble Energy and its partners in the Leviathan Field have been advised by the Israel Antitrust Authority of its decision to not submit the consent decree to the Antitrust Tribunal for final approval.
Nordic Maritime’s MKIII subsea service vessel Nordic Prince has started a long-term charter for Noble Energy after arriving in Haifa, Israel.
Saipem, through its controlled company ERSAI Caspian Contractor LLC, has been awarded a major engineering and construction contract in the Caspian region.