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Tehran and Baghdad have started a new round of negotiations over an agreement on supplying Iran's natural gas to Iraq and then resupply it to Europe through Syrian soil. The two countries have agreed to build a pipeline that stretches for 170 kilometres in Iran and 190 kilometres in Iraq. The project...
Iran is planning to invest $450 million a pipeline project that will supply natural gas to Iraq with a daily capacity of 25 million cubic meters of natural gas, media reports said citing managing director of Iran's Gas Engineering and Development Company. Construction of the pipeline is likely to start...
ExxonMobil has been officially barred from participating in Iraq’s fourth oil- and gas-licensing auction because of deals it struck with the Kurdistan region. The auction is scheduled to be held next month. Iraqi government has said that the company has to choose between its deals with Kuristan...
Turkey is planning to sell electricity to Iraq in exchange for natural gas. For the purpose, Turkey is expected to build a power station near the northern Iraqi border. Import of natural gas is likely to be carried out by the company which wins the tender. Turkey is also looking to diversify its energy...
Iranian media reported Tuesday that Iran and Iraq are likely to ink a deal where Iraq will import 25 million cubic meters (mcm) of natural gas each day in 2013 from its gas rich neighbour. The imported gas will be used by four Iraqi power plants. Iran has the second largest proven gas reserves in the...
Heritage Oil, in an update on the Miran West-3 well in the Kurdistan Region of Iraq, has said that testing of a reservoir interval above the main Jurassic reservoir resulted in a flow of up to 17.5 MMscf/d of dry gas. The reservoir interval tested is separate from the underlying main...
Talisman Energy has confirmed the presence of oil, natural gas and gas condensate at the Kurdamir-2 well in the Kurdistan Region of northern Iraq. The well flowed at unstimulated rates of 7.3 mmcf/d of natural gas and 950 bbls/d of oil and condensate, with no indications of water and no observed decline.
Hydrocarbon reserves of The Gulf Cooperation Council are estimated to be worth approximately $65 trillion. A report by QNB Capital says that the region's estimate is about a third of the $200 trillion value of the global oil and gas reserves. Meanwhile, the rest of MENA (Middle East and North Africa)...
ExxonMobil has confirmed exploration deal with Kurdish government. The company said that it will explore for oil and gas in the region for five years and will have an option for a two year extension. In November, Kurdish semi-autonomous region inked a deal with ExxonMobil. Iraqi government does not...
Iraq has made favourable changes to some of the terms of contracts offered to international companies to explore for oil and gas in 12 blocks in the country's fourth licensing auction scheduled for end of May, Dow Jones said in a report Monday. The report said the most important change the Iraqi oil...