Latest topics
Confirmations that Iraq will adhere to the "OPEC" agreement despite the difficult economic conditions
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Confirmations that Iraq will adhere to the "OPEC" agreement despite the difficult economic conditions
Confirmations that Iraq will adhere to the "OPEC" agreement despite the difficult economic conditions
15/01/2020
Yesterday, oil-exporting countries announced future directions that they intend to take, as an Iraqi oil official affirmed his country's commitment to OPEC's decision to reduce production despite "the economic need and the conditions the country is going through." At a time when Kuwait announced plans to double its oil production capacity over the next two decades.
During her participation in the International Petroleum Technology Forum 2020 currently held in eastern Saudi Arabia, an Iraqi oil official said that cooperation and coordination with Saudi Arabia continues and is proceeding at a good pace, indicating his country's commitment to OPEC's decision to reduce production despite the economic need and the conditions that his country is going through.
Harith al-Hassani, director of public relations at the Iraqi Oil Ministry, said that the Iraqi Oil Ministry is in joint and continuous cooperation with the Saudi Ministry of Energy, referring to the visit of the Saudi Energy Minister to Iraq two years ago and the formation of specialized committees between the two sides, stressing that the communication is going well especially with Aramco Saudi.
Al-Hassani explained that the Iraqi Oil Ministry is participating for the first time in an exhibition in Saudi Arabia, which is the Petroleum Technology Conference held in Dhahran with a wide local, regional and international participation. He said in an interview with Asharq Al-Awsat that "the ministry received an invitation to participate in the conference last year, for the first time we are participating in an exhibition in Saudi Arabia, and we have completed preparations early."
He added, "The Iraqi Oil Ministry has many operating companies in extraction, distribution and liquidation, and the rate of Iraqi production is from 4 - 4.5 million barrels per day, and we are committed to reducing production despite the fact that last year we needed to increase production due to the war on (ISIS) and the deteriorating economic situation."
The Iraqi official spoke about an orientation with the oil ministry in his country to strengthen the role of the national cadres, saying: «We have an ambitious plan in this aspect, as well as there are plans to focus on the gas industry, as if the gas is burning in the producing fields, and a year and a half ago there is real work to limit the burning Gas and our plan in 2021 will be better. ”
He added: «The oil fields are distributed, but its center is located in Basra Governorate, which represents the lung of Iraq, as most of the production comes from Basra», looking to increase joint cooperation with companies and develop the extraction process.
He said: «There are many companies seeking to invest in Iraq, and therefore we are keen to exchange experiences, and offer the opportunities we have», beneficial that Iraqi oil companies have begun to take a greater role in the extraction, distribution and liquidation processes.
He continued: «There are 18 oil companies belonging to the Iraqi Ministry of Oil that were operating the oil sector before 2003, then foreign investment companies came after 2003, Iraqi companies developed a plan to take a greater role from previous years, last year and signed contracts with the Iraqi Oil Ministry, one of the foreign companies withdrew We had two options, either using new foreign companies or using national companies, and for this reason, the Basra Oil Company took the lead and with national cadres.
For its part, Kuwait Oil Company revealed extensive exploration operations for the submerged region, where the company plans to raise its production by the year 2040 from 2.7 million barrels to 4 million barrels per day.
Ismail Malallah, public relations official at the Kuwait Oil Company, said that the company is currently working on reviewing the strategic plan 2040 aimed at raising production from 2.7 million barrels per day to 4 million barrels, pointing out that exploration operations will begin in next June in Kuwaiti submerged waters. Indicating that the targeted areas in the flooded areas include 7 oil wells at a time when the company did not set a specific ceiling for the size of the investment as the budget is open.
Mal Allah indicated that Kuwaiti oil production is concentrated in the northern region as well as the southeastern region, where these regions represent 70 percent of Kuwaiti oil production.
On the other hand, Kamil Hussein, the chief planner of the Kuwait Oil Company, revealed that work is currently underway to develop the 2040 strategy to replace the 2030 strategy, explaining by saying: “The 2040 strategy is in the final stages and has not been adopted yet.” Hussein stressed that exploration operations in the flooded areas are currently taking place in 7 oil wells, expected to finish all exploration operations in 2023 at a time when the country is targeting behind the flooded water trend to continue the flow of oil production resources and enhance the productive capacity of Kuwait during the coming years. He said: "The exploration operations will clarify many matters related to the economic feasibility of the submerged area."
Saudi Aramco demonstrated during the exhibition accompanying the Petroleum Technology Forum 2020, three modern technologies in the field of petroleum, providing simulation, virtual reality and augmented reality, as the new technologies give more capacity to manage fields and take decisions up to 60 percent from the previous.
Innovative technologies were produced in the research centers run by the company, and the number of Saudi Aramco research centers is 13 research centers around the world, all of which are working to invent modern technologies in the field of oil extraction and management of oil fields and wells, including two centers inside Saudi Arabia in both Dhahran and Thul.
In a presentation presented at the Petroleum Technology Expo 2020 that started yesterday, the company stressed that modern technologies in the oil industry have been developed in the company's research and development centers. She also pointed out that the three new technologies are developing virtual reality and augmented reality to train human cadres, and setting up simulation centers for fields and wells to support the management of oil reservoirs on land and sea, noting that innovative technologies will contribute to speeding decision-making by 50 to 60 per cent.
Saudi Aramco stressed that innovative technologies will play a pivotal role in the energy sector and supply of supplies to global markets, as well as enhancing environmental efforts and governance. At the same time, Aramco reviewed a set of technologies that it follows in developing the oil industry at the global level and keeping the Saudi economy prosperous.
On the other hand, the Industrialization and Energy Services Company (TAQA) announced yesterday that it signed a new agreement with Al-Mansouri Petroleum Services Company, as the agreement stipulates the establishment of an alliance between TAQA and Al-Mansouri Petroleum Services, a company specialized in oilfield services and the oil and gas industry based in the United Arab Emirates United.
The alliance between TAQA and Al Mansoori will provide integrated hydraulic fracturing and catalytic solutions to clients, by integrating the two companies ’expertise and capabilities in geology and petroleum engineering, oil well site management and reverse flow tests, as well as coiled tubing, punching, drilling services and equipment.
The two companies will combine their expertise to meet the needs of the growing hydraulic fracturing market, and the demand for this is expected to reach 2 billion riyals (533 million dollars) this year. Through the Petroleum Technology Expo 2020, Saudi Aramco unveiled the creation of three modern technologies in the field of oil, where simulations, virtual reality and augmented reality provide the ability to manage fields and make decisions at rates of up to 60 percent from the previous.
http://www.uabonline.org/en/news/arabicnews/15781571160316101583157515781576157516041578158615/71826/1
15/01/2020
Yesterday, oil-exporting countries announced future directions that they intend to take, as an Iraqi oil official affirmed his country's commitment to OPEC's decision to reduce production despite "the economic need and the conditions the country is going through." At a time when Kuwait announced plans to double its oil production capacity over the next two decades.
During her participation in the International Petroleum Technology Forum 2020 currently held in eastern Saudi Arabia, an Iraqi oil official said that cooperation and coordination with Saudi Arabia continues and is proceeding at a good pace, indicating his country's commitment to OPEC's decision to reduce production despite the economic need and the conditions that his country is going through.
Harith al-Hassani, director of public relations at the Iraqi Oil Ministry, said that the Iraqi Oil Ministry is in joint and continuous cooperation with the Saudi Ministry of Energy, referring to the visit of the Saudi Energy Minister to Iraq two years ago and the formation of specialized committees between the two sides, stressing that the communication is going well especially with Aramco Saudi.
Al-Hassani explained that the Iraqi Oil Ministry is participating for the first time in an exhibition in Saudi Arabia, which is the Petroleum Technology Conference held in Dhahran with a wide local, regional and international participation. He said in an interview with Asharq Al-Awsat that "the ministry received an invitation to participate in the conference last year, for the first time we are participating in an exhibition in Saudi Arabia, and we have completed preparations early."
He added, "The Iraqi Oil Ministry has many operating companies in extraction, distribution and liquidation, and the rate of Iraqi production is from 4 - 4.5 million barrels per day, and we are committed to reducing production despite the fact that last year we needed to increase production due to the war on (ISIS) and the deteriorating economic situation."
The Iraqi official spoke about an orientation with the oil ministry in his country to strengthen the role of the national cadres, saying: «We have an ambitious plan in this aspect, as well as there are plans to focus on the gas industry, as if the gas is burning in the producing fields, and a year and a half ago there is real work to limit the burning Gas and our plan in 2021 will be better. ”
He added: «The oil fields are distributed, but its center is located in Basra Governorate, which represents the lung of Iraq, as most of the production comes from Basra», looking to increase joint cooperation with companies and develop the extraction process.
He said: «There are many companies seeking to invest in Iraq, and therefore we are keen to exchange experiences, and offer the opportunities we have», beneficial that Iraqi oil companies have begun to take a greater role in the extraction, distribution and liquidation processes.
He continued: «There are 18 oil companies belonging to the Iraqi Ministry of Oil that were operating the oil sector before 2003, then foreign investment companies came after 2003, Iraqi companies developed a plan to take a greater role from previous years, last year and signed contracts with the Iraqi Oil Ministry, one of the foreign companies withdrew We had two options, either using new foreign companies or using national companies, and for this reason, the Basra Oil Company took the lead and with national cadres.
For its part, Kuwait Oil Company revealed extensive exploration operations for the submerged region, where the company plans to raise its production by the year 2040 from 2.7 million barrels to 4 million barrels per day.
Ismail Malallah, public relations official at the Kuwait Oil Company, said that the company is currently working on reviewing the strategic plan 2040 aimed at raising production from 2.7 million barrels per day to 4 million barrels, pointing out that exploration operations will begin in next June in Kuwaiti submerged waters. Indicating that the targeted areas in the flooded areas include 7 oil wells at a time when the company did not set a specific ceiling for the size of the investment as the budget is open.
Mal Allah indicated that Kuwaiti oil production is concentrated in the northern region as well as the southeastern region, where these regions represent 70 percent of Kuwaiti oil production.
On the other hand, Kamil Hussein, the chief planner of the Kuwait Oil Company, revealed that work is currently underway to develop the 2040 strategy to replace the 2030 strategy, explaining by saying: “The 2040 strategy is in the final stages and has not been adopted yet.” Hussein stressed that exploration operations in the flooded areas are currently taking place in 7 oil wells, expected to finish all exploration operations in 2023 at a time when the country is targeting behind the flooded water trend to continue the flow of oil production resources and enhance the productive capacity of Kuwait during the coming years. He said: "The exploration operations will clarify many matters related to the economic feasibility of the submerged area."
Saudi Aramco demonstrated during the exhibition accompanying the Petroleum Technology Forum 2020, three modern technologies in the field of petroleum, providing simulation, virtual reality and augmented reality, as the new technologies give more capacity to manage fields and take decisions up to 60 percent from the previous.
Innovative technologies were produced in the research centers run by the company, and the number of Saudi Aramco research centers is 13 research centers around the world, all of which are working to invent modern technologies in the field of oil extraction and management of oil fields and wells, including two centers inside Saudi Arabia in both Dhahran and Thul.
In a presentation presented at the Petroleum Technology Expo 2020 that started yesterday, the company stressed that modern technologies in the oil industry have been developed in the company's research and development centers. She also pointed out that the three new technologies are developing virtual reality and augmented reality to train human cadres, and setting up simulation centers for fields and wells to support the management of oil reservoirs on land and sea, noting that innovative technologies will contribute to speeding decision-making by 50 to 60 per cent.
Saudi Aramco stressed that innovative technologies will play a pivotal role in the energy sector and supply of supplies to global markets, as well as enhancing environmental efforts and governance. At the same time, Aramco reviewed a set of technologies that it follows in developing the oil industry at the global level and keeping the Saudi economy prosperous.
On the other hand, the Industrialization and Energy Services Company (TAQA) announced yesterday that it signed a new agreement with Al-Mansouri Petroleum Services Company, as the agreement stipulates the establishment of an alliance between TAQA and Al-Mansouri Petroleum Services, a company specialized in oilfield services and the oil and gas industry based in the United Arab Emirates United.
The alliance between TAQA and Al Mansoori will provide integrated hydraulic fracturing and catalytic solutions to clients, by integrating the two companies ’expertise and capabilities in geology and petroleum engineering, oil well site management and reverse flow tests, as well as coiled tubing, punching, drilling services and equipment.
The two companies will combine their expertise to meet the needs of the growing hydraulic fracturing market, and the demand for this is expected to reach 2 billion riyals (533 million dollars) this year. Through the Petroleum Technology Expo 2020, Saudi Aramco unveiled the creation of three modern technologies in the field of oil, where simulations, virtual reality and augmented reality provide the ability to manage fields and make decisions at rates of up to 60 percent from the previous.
http://www.uabonline.org/en/news/arabicnews/15781571160316101583157515781576157516041578158615/71826/1
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
The 12th edition of the International Petroleum Technology Conference (IPTC) will be held 13–15 January 2020 at the Dhahran EXPO in Dhahran
13–15 January 2020
Dhahran EXPO
Kingdom of Saudi Arabia
Vision to Prosperity: A New Energy Era Emerges
The 12th edition of the International Petroleum Technology Conference (IPTC) will be held 13–15 January 2020 at the Dhahran EXPO in Dhahran, Kingdom of Saudi Arabia, with Saudi Aramco serving as the Exclusive Host Organisation.
IPTC is a collaborative effort among the American Association of Petroleum Geologists (AAPG), the European Association of Geoscientists and Engineers (EAGE), the Society of Exploration Geophysicists (SEG), and the Society of Petroleum Engineers (SPE).
Regional energy ministers, industry leaders, and governmental representatives will have an opportunity to discuss and share their views on timely industry topics and trends, exchange expertise and experience, present state-of-the-art technology and innovation, and to stimulate further research of technical and business activities.
In addition, awards and recognition wil be given for organisations efforts in technical and business contributions to the industry. There will also be a range of integrated social activities to encourage networking and off-line discussion.
http://2020.iptcnet.org/welcome
claud39- Elite Member
- Posts : 18423
Join date : 2018-11-04
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Sun Mar 10, 2024 5:58 am by RamblerNash
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej
» Dinar Daily Facebook Page
Mon Jan 22, 2024 3:34 pm by Ponee
» The Fundamentals of Finance and Pimpy Live
Thu Jan 18, 2024 7:17 am by Dinarhater
» Why Won't the Iraqi Dinar Scam Die?
Wed Jan 17, 2024 5:19 pm by RamblerNash
» Frat President Charged With Stealing $267K to Buy Worthless Iraqi Dinars
Wed Jan 17, 2024 5:05 pm by RamblerNash
» Fact Check: NO Record 'Quantum Financial System' Exists Beyond Claims In Videos, Online Articles
Mon Jan 15, 2024 6:15 pm by RamblerNash