A company source stated on Friday that North Oil Company (NOC) has begun preparing oil wells in Kirkuk Governorate to increase production levels prior to transferring the fields to British energy giant BP for development.
“NOC has initiated a work plan to maximize production from the Kirkuk, Bai Hassan, Jambur, and Khabbaz fields before transferring them to BP, which has been contracted to enhance their output,” the source explained.
The source added that the organization’s field division has been entrusted with executing a boring and restoration plan this year, close by well-initiation exercises without rigs. ” The organization intends to accelerate the readiness of well destinations, planning with the task division to finish each site in three weeks or less.”
Additionally, the company is laying pipelines and connecting wells Bai Hassan 198 and 199, with an anticipated completion date of one month. Five well valves in the Khabbaz oil field are being associated, and harmed pipelines at the Shoraw station in Baba Arch are being fixed as a feature of the organization’s endeavors to balance out creation levels in northwest Avana, as per extended plans for the Kirkuk oil field.”
The source noticed that NOC is supposed to finish all prerequisites for BP in no less than three weeks to a month. A gathering with BP delegates is booked to finish the subsequent stages for executing the understanding pointed toward helping NOC’s creation limit.
“The contract between the Iraqi government, through the Ministry of Oil, and BP must ensure that the British company delivers tangible results in terms of increased production within a specific timeframe,” said economic expert Ali Khalil.
Khalil pointed out that BP had previously signed a $100 million contract with NOC that expired in January 2020. The past agreement included 3D seismic investigations of the supply, expanding on existing 2D information. Nine billion barrels of recoverable oil are estimated to be present in the Kirkuk field, he added.
On August 1, State leader Mohammed Shia Al-Sudani managed the marking of an extensive oil reminder of understanding between Iraq’s Service of Oil and BP to foster the Kirkuk fields for oil and gas creation. Iraqi Appointee Head of the state and Oil Pastor Hayan Abdul-Ghani consented to the arrangement, while BP’s President Murray Auchincloss addressed the English organization.
The update covers the restoration and advancement of four NOC fields in Kirkuk — Kirkuk (Baba and Avana Vaults), Bai Hassan, Jambur, and Khabbaz. It likewise opens the entryway for possible settlements on different fields or investigation blocks, with the two players looking to expand energy open doors in the district to support oil yield and put resources into gas and sun based energy projects.
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