Iraq has signed a contract with China’s CNOOC to conduct a seismic survey for two oil exploration blocks, the oil ministry said on Jan. 31.
The survey will include one offshore block in the Gulf and another near the border with Iran, the ministry said in a statement.
The offshore survey would be the first in Iraq’s territorial waters in the Gulf, said ministry spokesman Asim Jihad.
The onshore block near the border with Iran and the offshore block were among six which failed to attract bids from energy companies in a licensing auction held last year.
The oil ministry held an auction for international energy companies, with 11 blocks on offer near the borders with Iran and Kuwait and in offshore Gulf waters.
Iraq has boosted output rapidly in recent years with the help of foreign oil companies. It is OPEC’s second-largest producer behind Saudi Arabia.
Turan Drilling, a JV between KCA Deutag and SOCAR AQS, secured the contract for operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea, SOCAR AQS head said
Italian oil services group Saipem is looking for partners for its drilling business, while it has ruled out a trade sale, the company's CEO said on April 18.
Denmark’s Orsted will invest $30 billion in green energy up to 2025, it said on Nov. 28, as it seeks to become one of a handful of future “renewable majors” leading a global transition from fossil fuels to green energy.