Iraq halts Gharraf oilfield after Petronas evacuates staff

Iraq halted production of around 95,000 barrels per day of oil from Gharraf southern oilfield after Malaysia’s Petronas evacuated its staff from the field. (AFP file photo)
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Updated 17 March 2020

Iraq halts Gharraf oilfield after Petronas evacuates staff

  • Petronas, the operator of Gharraf, took the decision to protect its staff from the spread of the new coronavirus
  • Oil officials said they are working to restore operations at Gharraf

BASRA, Iraq: Iraq halted on Tuesday production of around 95,000 barrels per day (bpd) of oil from Gharraf southern oilfield after Malaysia’s Petronas evacuated its staff from the field, oil officials said.
Petronas, the operator of Gharraf, took the decision to protect its staff from the spread of the new coronavirus, Iraqi oilfield officials said; adding that the company took the decision without consulting with Iraqi officials in Gharraf.
“We were forced to shut down production because Petronas didn’t inform us of the evacuation process,” said one oilfield official.
Oil officials said they are working to restore operations at Gharraf on Wednesday.


Saudi Arabia’s Red Sea mega project awards contracts for international airport

Updated 13 July 2020

Saudi Arabia’s Red Sea mega project awards contracts for international airport

  • Saudi Arabia plans to develop resorts on 50 islands off the Red Sea coast, offering a nature reserve, coral reef diving and heritage sites
  • Red Sea Development Co, backed by Saudi Arabia’s sovereign fund, the Public Investment Fund (PIF), plans to build the first phase by 2022

RIYADH: Saudi Arabia’s Red Sea Development Company said on Monday it had awarded infrastructure contracts for an international airport that is due to open in 2022.
The company, which is developing a huge Red Sea tourism project, said the contracts were awarded to Nesma & Partners Contracting Co. Ltd. and Almabani General Contractors.
Saudi Arabia plans to develop resorts on 50 islands off the Red Sea coast, offering a nature reserve, coral reef diving and heritage sites.
Red Sea Development Co, backed by Saudi Arabia’s sovereign fund, the Public Investment Fund (PIF), plans to build the first phase by 2022. It aims to attract 300,000 tourists a year in the first phase and 800,000 to 1 million once the development is complete.
Red Sea is one of three major projects backed by PIF, along with the $500 billion NEOM economic zone and the Qiddiya entertainment project.
Saudi Arabia’s NEOM, which is building a $500 billion mega economic zone, said last week it had signed an agreement with Air Products and Saudi Arabia’s ACWA Power for a $5 billion green hydrogen-based ammonia production facility.