Latest news with #MidlandOilCompany
Iraqi News
07-07-2025
- Business
- Iraqi News
Iraq increases Diwaniyah refinery's capacity to 90,000 bpd
Baghdad ( – The Iraqi Minister of Oil, Hayan Abdul-Ghani, confirmed on Monday that the government started adding a refining unit with a capacity of 70,000 barrels per day to the Diwaniyah refinery. The step will increase the refinery's production capacity to 90,000 barrels per day, according to a statement cited by the state-run news agency (INA). The five-year project is designed to expand Iraq's capacity to produce oil derivatives, cover local fuel demand, and achieve self-sufficiency. The initiative is part of the Iraqi government's attempts to modernize the oil sector, enhance product quality, and increase output. Under a deal worth $800 million, the Diwaniyah refinery in Iraq is undertaking a significant expansion project. The upgrade includes units for liquefied gas processing, naphtha hydrotreating, gasoline upgrading, and isomerization, as well as other critical service facilities. In February, Iraqi Prime Minister Mohammed Shia Al-Sudani attended a ceremony to sign a deal between the state-owned Midland Oil Company (MOC) and a local private company to modernize the Diwaniyah refinery.
Iraqi News
23-06-2025
- Business
- Iraqi News
Iraq opens new solar power plant in East Baghdad oilfield
Baghdad ( – In a step aiming to integrate renewable energy into oil fields, Iraq inaugurated on Sunday a new solar power plant in the East Baghdad oilfield. Director of Iraq's Midland Oil Company, Mohammed Yassin Hassan, attended the inauguration event, as did officials from the Chinese company EBS, the field's operator, according to a statement released by the Iraqi Oil Ministry. Hassan noted that the initiative is a promising start for future projects aiming to increase the use of solar energy throughout all of the company's oil fields, thus decreasing carbon emissions and shifting toward sustainable energy in accordance with government environmental objectives. The new solar power facility has 2,338 solar panels and a total output capacity of about 1.3 megawatts, which is enough to power certain EBS and Midland Oil Company facilities. While reducing carbon emissions by 2,640 tons, the project also saves approximately $720,000 annually, a cost that would have been associated with traditional power generation. The project is part of initiatives to increase solar energy in Iraq, which have gained growing momentum in the past few years. The Iraqi government aims to include renewable energy sources, notably solar energy, into the national power grid to minimize reliance on fossil fuels and improve energy security.
Shafaq News
22-05-2025
- Business
- Shafaq News
Iraq, Gazprom ink deal to boost Badra oil and gas output
Shafaq News/ Iraq's Midland Oil Company (MdOC) signed the first amendment to the Badra oil field service contract on Thursday with Russia's Gazprom and its consortium partners, to increase oil and gas production from the field. The signing ceremony was attended by Deputy Oil Minister for Extraction Affairs Bassem Mohammed Khudair, Russian Ambassador to Baghdad Elbrus Kutrashev, and several senior officials from Iraq's oil sector. Khudair emphasized the Oil Ministry's commitment to sustaining production operations across national oilfields and supporting the work of international companies operating in Iraq. MdOC Director General Mohammed Yassin said the amendment is intended to raise production rates during the remaining term of the contract, thereby maximizing state revenues.
Iraq Business
22-05-2025
- Business
- Iraq Business
Gazprom Signs Amendment to Badra Oilfield Service Contract
By John Lee. Russia's Gazprom and its consortium partners have signed the first amendment to the service contract for the Badra oilfield with Iraq's Midland Oil Company (MdOC). The signing ceremony, held on Thursday, was attended by Bassem Mohammed Khudair, Deputy Minister for Upstream Affairs; Russian Ambassador Elbrus Kutrashev; the Director General of Dhi Qar Oil Company (DQOC); the Director General of the Petroleum Contracts and Licensing Directorate (PCLD); the Director General of the Reservoirs and Field Development Directorate; and the Deputy Director General of the Technical Directorate. Khudair affirmed the Ministry's commitment to supporting production continuity in Iraq's oilfields and to facilitating the work of international oil companies operating in the country. Mohammed Yassin, Director General of Midland Oil Company, said that the company is working with the contractor to boost production rates within the remaining term of the contract to enhance state revenues. According to a statement from the Ministry, the amended contract includes provisions on gas production and expected financial returns for the remaining life of the project, but no details were provided. (Source: Ministry of Oil)
Iraqi News
20-05-2025
- Business
- Iraqi News
East Baghdad field to start producing oil and gas in 2026
Baghdad ( – The Head of Operations for the Southern Region in Iraq's Midland Oil Company (MOC), Firas Fawzi, revealed on Tuesday that the East Baghdad field will start producing gas in September 2026. In a statement to Shafaq News, Fawzi elaborated that the East Baghdad field's oil production is expected to reach 120,000 barrels per day by June 2026, suggesting that the gas production phase will begin afterwards. Gas production in the East Baghdad field is anticipated to begin in September 2026, with an expected output ranging between 25 and 50 million cubic feet per day, according to Fawzi. As part of a plan to drill 18 oil wells in the southern part of the East Baghdad field, the state-owned Iraqi Drilling Company (IDC) announced in February that drilling had begun in the first well. The Iraqi Ministry of Oil said in a statement that the step is part of the ministry's strategic goals and collaborative efforts with the Chinese company EBS to support and develop the country's oil sector. An enormous discovery just raised the reserves of the East Baghdad field, one of Iraq's most significant oil resources, to 15 billion barrels. This discovery enhances Iraq's position as one of the world's top oil producers and creates new avenues for output expansion and revenue generation. In collaboration with the Chinese oil company EBS, Iraq's Midland Oil Company (MOD) said in January that two billion more barrels had been found in the oil field. Given that this discovery represents the largest expansion in central Iraq's crude oil reserves in decades, the energy industry is paying close attention to it. Several studies are being done to develop strategies to maximize productivity and use this important resource. This finding raises the overall reserves of the East Baghdad field to 15 billion barrels, up from 13 billion barrels before the latest discovery, according to Mohammed Yassin Hassan, director general of the state-run MOC. The discovery is a major step that supports the Iraqi oil sector and increases national income since the oil field is considered the largest in central Iraq.
