Exclusives

Stratas Advisors, Iraq, Kurdistan, oil

Once the Iraqi military concludes its campaign against the Islamic State in Mosul and surrounding territory, it will seek to reacquire territories disputed between Baghdad and the Kurdistan Regional Government.

Saudi Arabia, Kuwait, production, oil, neutral zone, Al-Khafji, field,  Essam al-Marzouq

Sources familiar with the talks said the two countries have agreed that any resumption of crude production from the shared oil fields won’t raise their output beyond limits set by OPEC.

Iraq, oil, CERAWeek, export, gas, production, OPEC, Jabbar Ali al-Luiebi

Although OPEC’s second-largest oil producer has more than 70 oil fields, only 30% of these are developed or partially developed, according to Iraq’s oil minister.

Middle East, technology, oil, prices, Middle East Technology Conference, Nexant, Euro Petroleum Consultants, Saudi Aramco

During the last 18 months, the economic climate and oil prices have been the primary focus for much of the industry, but technology has gained prominence.

Stratas Advisors outlined regional relationships’ link to energy production in a recent webinar, as the Trump administration marks its first month. 

Exploration

The seismic data obtained are required for updating of the field’s geological model for the discovered formations and prospective horizons, according to the release.

TAQA said its Iraq project--the 30 Mboed Kurdistan Atrush facility--is on track with first oil expected this year, Reuters reported.

The team will work to integrate recently acquired and processed 3D seismic data covering the entire PZ with multiple geological, petrophysical and production data sets to deliver a portfolio of exploration prospects and asset development infill opportunities, according to CGG.

The company also said it was selected alongside other companies to consult on a potential oil and gas pipeline between Iran and Oman, Reuters reported.

Iran aims to grow gas output to 1 Tcm by 2018, up from 160.5 Bcm in 2012, before the latest sanctions took effect. But it currently has no ability to freeze its gas into LNG for tanker exports, Reuters reported.

Production

"We are setting up gas processing facilities ... we have dug four pilot wells and have got encouraging response," N. K. Verma, the company's managing director, said, according to Reuters.

The vast offshore gas field, which Doha calls the North Field and Iran calls South Pars, accounts for nearly all of Qatar's gas production and about 60% of its export revenue, Reuters said.

The Iraqi Kurdistan-focused company wrote off $779 million in relation to its exploration assets, leading to an annual operating loss of $1.2 billion after a $1.1 billion operating loss in 2015.

The company expects production at Leviathan to begin by the end of 2019. The project's partners have budgeted $3.75 billion for its development, Reuters reported.

A March loading program had pointed to southern exports from Iraq—OPEC's second-largest producer—falling to 3 MMbbl/d, but instead have averaged 3.25 MMbbl/d so far in March.

Technology

Iraq's natural gas output will triple to 1,700 million cubic feet per day by 2018 as the nation implements projects to reduce flaring, the oil minister told an energy conference in Baghdad on April 2, Reuters reported.

In January, Iran named 29 companies from more than a dozen countries as being allowed to bid for oil and gas projects, but the Iran Petroleum Contract model has been delayed several times.

The two companies agreed to collaborate on identifying technologies that could deliver improved operational performance and efficiency across the oil and gas value chain.

The government aims to sell up to 5% of Aramco, listing the shares in Riyadh and at least one foreign exchange, to raise cash for investment in new industries, as the kingdom seeks to diversify its economy beyond oil exports in an era of cheap crude, Reuters reported.

The company will develop a gathering center to process crude oil and gas recovered from Arifjan, Marat, Minagish Oolite and Burgan Wara high hydrogen sulphide fields, with work scheduled to be completed by 2020.