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Iraq Capitalizes on OPEC Quota Adjustment

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Iraq Capitalizes on OPEC Quota Adjustment 10 YEARS OF INFORMING, ENGAGING AND EMPOWERING STAKEHOLDERS IN IRAQ | SEPTEMBER 2018 INSIDE Q&A: Abdul Mahdy al-Ameedi, 4 head of Iraq's oil contracts Before turbulent election, 9 Iraq ignored key warnings Q&A: Brig. Gen. Ali Hussein Hilal al-Mayahi, director of South Oil Police Facing months of protests at key oil sites in Basra, Mayahi details the network of government forces providing security and the challenges they have faced. For two months this summer, Iraq’s A Basra Gas Company worker at the Nahr Bin Omar oil field takes part in the opening of a new oil sector was on edge as protesters pipeline sending gas to the national network on Jan. 12, 2017. threatened to disrupt operations at major fields in Basra, in an effort to pressure Iraq capitalizes on OPEC quota adjustment the government to provide more jobs and The Oil Ministry is unleashing latent capacity from state-run fields, and is basic services. eyeing further production increases in the next year. While most rallies were peaceful in front of government buildings and at Iraq’s production rose by over 100,000 based on data gathered monthly from each oil fields, some got tense. Protesters barrels per day (bpd) in July, following an of the country’s producing fields. shut down access roads to fields, and in OPEC meeting in which members paved the The Iraqi Oil Ministry confirmed a large multiple instances angry mobs penetrated way for production increases. increase in disclosures published in the security cordons, causing minor damage. Combined, fields under control of the August edition of OPEC’s Monthly Oil Markets Multiple protesters and security force federal government and the Kurdistan Report, claiming a total of 4.460 million bpd members were injured, and at least one region produced about 4.697 million bpd in July, up from 3.360 million bpd in each of demonstrator was killed at a field protest. in July, well above this year’s previous high- the previous nine months. Brig. Gen. Ali Hussein Hilal al-Mayahi water mark of 4.598 million bpd in May, The production increase appears to is the director of the South Oil Police, a according to an Iraq Oil Report analysis be the direct result of orders from the Oil part of the Interior Ministry’s Energy Police see OPEC, page 2 see AL-MAYAHI, page 6 DELIERI TE FELS TAT EERIE PROSPERITY www.iraqoilreport.com Iraq capitalizes on OPEC quota adjustment OPEC, cont’d from page 1 Ministry in Baghdad - issued on July 1, days after the most recent OPEC meeting - which instructed the Basra Oil Company (BOC) to tap into latent capacity at state-run fields, according to ministry correspondence obtained by Iraq Oil Report. “According to the oil minister’s instructions... we would like to report that we have achieved an additional 105,000 bpd of production at fields being developed through the national efforts since the end of June,” said Ihsan Ismaael, the director general of BOC, in a July 25 letter to the Oil Ministry. The Luhais, Ratawi, Nahr bin Omar, and Tuba fields had been producing a combined 143,000 bpd, Ismail wrote, but have now reached a total output of 248,000 bpd. Iraq Oil Report corroborated those and the Avana Dome of the Kirkuk field; unlock more than 200,000 bpd of capacity numbers with officials working on each those assets are now back under the control that is currently stranded. field, and with a senior BOC official who said of the state-run North Oil Company (NOC). And, if the federal government is able the state-run fields had achieved their new NOC has not been able to fully exploit to quell the protest movement in southern targets within a week of the oil minister’s July those fields because of inadequate routes Iraq, scheduled increases at other fields are 1 order. to market. The only pipeline connected to likely to come online as well - including new The overall production of federal Iraqi oil those fields is controlled by the KRG, and that initiatives to raise production from other fields rose from 4.222 million bpd in June, is currently off limits to Baghdad because of state-run fields. according to the Iraq Oil Report analysis, up political disagreements. Oil Minister Jabbar al-Luiebi announced to 4.283 million bpd in July. Bai Hassan and Avana have both come at the end of July that the state-run Dhi Qar Production would have been even online partially in recent months, reaching Oil Company (DQOC) has been allocated higher, but for protest-related disruptions a combined output of more than 70,000 $140 million to conduct a 20-well drilling which caused output to fall at the West bpd in July, according to an Iraq Oil Report program that will raise production at the Qurna 1 field, which had been producing estimate based on accounts from multiple Nassiriya field from 90,000 bpd to 200,000 over 450,000 bpd since March. It averaged industry officials in northern Iraq. Output bpd within a year. just 400,000 bpd in July. from the two fields increased further in Multiple DQOC officials said they did Iraq’s overall production also rose, August, officials said, to as much as 115,000 not expect that additional production to despite the protests, because of increases bpd. come online until 2020, however, because at fields controlled by the autonomous That production is being transported to of the additional surface facilities needed to Kurdistan Regional Government (KRG), refineries in Kurdistan, under a commercial process and transport additional production. which produced a combined 414,000 bpd in agreement designed to provide fuel to areas The Subba field, also operated by DQOC, July, according to the Iraq Oil Report analysis, that are rebuilding after being occupied by is expected to add about 35,000 bpd, as soon up from 368,000 bpd in June. the self-proclaimed Islamic State (IS) militant as the company is able to install equipment The KRG’s production fell dramatically group. needed to treat the high salt content in the after October 2017, when the federal Iraq’s surging production in July could crude, according to multiple DQOC officials. government launched a military operation mark the beginning of a bigger increase in Production is expected to increase further to reclaim control of Kirkuk province and the coming months. after a six-well drilling plan in 2019. ♦ its oil fields. The KRG had been putting a If leaders in Baghdad and Erbil are able combined 280,000 bpd into its independent to strike a deal for NOC-produced oil to READ THE FULL STORY @ export pipeline from the Bai Hassan field flow through the KRG’s pipeline, that would www.iraqoilreport.com 2 Protecting people and assets in a complex world GardaWorld, the world’s largest privately owned security company, has been providing mobile, static and consulting security services to the oil and gas sector in Iraq for over 20 years. We’ve enhanced our capabilities further to provide a full turnkey solution specifically designed for Rig Site Security, which includes an internationally accredited Rig Site Security Management Training course. From Iraq, Kurdistan and Libya, to Nigeria, Yemen and Somalia, at oil fields, refineries, and remote explorations, we are partnered with our clients ensuring their security. For more information about how we can secure your rig sites and support all your other security needs, contact: ISO ISO BS OHSAS ISO ANSI/ASIS 9001:2015 14001:2015 18001:2007 18788:2015 PSC.1-2012 Quality Environmental Occupational Health Security Quality Management Management & Safety Operations Assurance MANAGEMENT Management SYSTEMS Management Management QMS/112016/001 EMS/112016/001 HSMS/112016/001 SMS/022016/001 SMS/072014/001 [email protected] or visit garda.com 7818 90642 GW Iraq Oil Report Ad_AW.indd 1 09/08/2018 12:07 www.iraqoilreport.com Q&A: Abdul Mahdy al-Ameedi, head of Iraq's oil contracts The Oil Ministry's contracting chief discusses prospective agreements to achieve progress in oil and gas fields awarded to foreign oil companies. As the director general of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD), Abdul Mahdy al-Ameedi is at the center of Iraq’s evolving relationship with international oil companies. The ministry is currently in the process of finalizing new contracts that were awarded just before the country’s May 12 elections - but which still need to be formally approved by the Cabinet before signing. Ameedi spoke with Iraq Oil Report about the process he is overseeing to amend previously awarded contracts and flesh out detailed final development plans for the country’s largest oil fields. Some of the previous bidding round contracts have been tweaked over the years. Where is each one now, in terms of production plateau targets, timeframe, contract length and remuneration fee? Abdul Mahdy al-Ameedi, the director general of the Oil Ministry’s Petroleum Contracts and For the four previous licensing rounds, Licensing Directorate, at a May 23 press conference following the signing of a development contract for the East Baghdad oil field with ZhenHua and the Midland Oil Company. there’s no changes so far, except for changes and amendments we made previously for So far, in Zubair, there is an agreement to The performance factor will be applied on the five contracts, which are Rumaila, Zubair, reduce the plateau from 850,000 to 750,000 a quarterly basis, only on the production that West Qurna 1, West Qurna 2 and Halfaya. bpd. In Rumaila they are discussing reducing will be agreed between our companies and No further changes, no further the plateau from 2.1 to maybe 1.8 million the contractors in the annual work program.
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