Iraq lifts oil output at Eni’s Zubair field

Zubair’s production capacity will rise gradually to 625,000 bpd by the end of the year, as three additional processing facilities are added. (Reuters)
Updated 09 May 2018
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Iraq lifts oil output at Eni’s Zubair field

  • Production rose after the completion of a new oil processing facility.
  • Country is also seeking to lift its refining capacity to become self-sufficient in oil products.

ZUBAIR: Iraq has lifted oil production at Eni’s Zubair field in the south by 50,000 barrels per day (bpd) to 475,000 bpd, an Iraqi oil official said on Wednesday.
Production rose after the completion of a new oil processing facility, Muhaned Abbas Kojer, the capacity expansion project director, told Reuters on the sidelines of a ceremony to launch the new installations in Al-Zubair, south of Basra.
Zubair’s production capacity will rise gradually to 625,000 bpd by the end of the year, as three additional processing facilities are added, and further expansions will take its capacity to its 850,000 bpd target by 2020, Abbas said.
The field should produce 140 million cubic feet per day of gas by the end of the year, he added.
Iraq, the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia, has an oil production capacity of nearly 5 million bpd.
Crude output is kept at about 4.45 million bpd, in line with a deal between OPEC and some other non-OPEC producers to curb production in order to bolster crude prices.
The country is also seeking to lift its refining capacity to become self-sufficient in oil products.
The oil ministry has asked investors for bids by June 14 to build a 100,000 bpd refinery in Kut, south of Baghdad.
Iraq’s refining capacity was curbed when Daesh overran its largest oil processing plant in Baiji, north of Baghdad, in 2014.
Iraqi forces recaptured Baiji in 2015 but it sustained heavy damage in the fighting. The country now relies on the Doura refinery in Baghdad and the Shuaiba plant in the Basra region.


Siemens CEO pushes plans to boost Iraqi power infrastructure

Updated 23 September 2018
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Siemens CEO pushes plans to boost Iraqi power infrastructure

FRANKFURT: Siemens said its boss Joe Kaeser met Iraq’s prime minister on Sunday to discuss a proposal by the German company to expand the Middle East nation’s power production.
The German engineering group said it was proposing a deal to add 11 gigawatt (GW) of capacity over four years, saying this would boost the country’s capacity by nearly 50 percent.
It did not give a value, but such a contract would be worth several billion euros based on previous comparable deals.
Iraq has a wide gap between electricity consumption and supply. Peak demand in the summer, when people turn on air conditioners due to high temperatures, is about 21 GW, far exceeding the 13 GW the grid is currently provides, experts say.
Kaeser said in a statement after meeting Prime Minister Al-Abadi that they had “discussed the comprehensive Siemens roadmap to build a better future for the Iraqi people.”
“In Egypt, we have done the same and successfully built up the power infrastructure in record time with the highest efficiency,” he said.
In 2015, Siemens signed an 8 billion euro ($9.4 billion) deal with Egypt to supply gas and wind power plants to add 16.4 gigawatts of capacity to the country’s power grid, marking the group’s single biggest order.
The proposal for Iraq, first pitched in February, would include cutting Iraq’s energy losses, introducing smart grids, expanding transmission grids, upgrading existing plants and adding new capacity.
The group would also help the government secure funding from international commercial banks and export credit agencies with German government support, creating thousands of jobs in Iraq.
Siemens would donate a $60 million grant for software for Iraqi universities, it said.