Project Profile
Value: US$1 billion
Location: Al-Basrah Province, Basrah
Plateau production: 110 million standard cubic feet per day
Licence award: June 2011, 20 years duration
Start-up Year: 2018
The project will see the exploration and then development of a non associated gas field, in Iraq’s third tender as Baghdad seeks to develop gas for power generation as Baghdad seeks to develop gas for power generation. The field lies in Basrah, near Iran and has estimated proven reserves of more than 106 billion cubic feet. The contract will be nearly the same as for the contracts awarded from the first round, but with a few modifications. The bidding parameters will be the same as the previous auctions: production and remuneration fee. The successful companies set a remuneration fee of $7.50 per barrel of oil equivalent and its plateau output target is 100 million cubic feet per day of gas.
Operator:
Kuwait Energy: 25% interest
Turkish Petroleum Corporation (TPAO): 30% interest
Missan Oil Company: 25% interest
Egyptian General Petroleum Corporation (EGPC): 20% interest
Contractor:
Schlumberger: Techlog* petrophysical analysis software
UOP (Honeywell subsidiary): Selected by Kuwait Energy Company and its partners to help speed up gas production at Iraq’s SIBA gas field in southern Iraq. The US process technology supplier will provide modular equipment at the field which lies in the Basrah Governorate in order to meet pipeline specifications and to recover valuable natural gas liquids (NGLs) in the process.