Exploration & Production

Iraq confident of producing 6.5mn bpd

Iraq_6.5mn_bpd

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.

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Lukoil to start oil production in Iraq by 2013

Lukoil_Iraq

Lukoil which develops Iraq's West Qurna phase-2 oil field expects to begin production in 2013.

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MB Group looking to acquire oil assets

MB_GROUP_oil_assets

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.

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US$2.6 billion pipeline awarded in Iran

US2.6_billion_Iran1

Iran has issued contracts worth US$2.6 billion to Khatam Al-Anbia, a company controlled by the Revolutionary Guards.

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LUKOIL looking to the Middle East to boost reserves

LUKOIL_reserves

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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