Basrah- State Co for Oil Projects (SCOP) is forging ahead with the reconstruction of the Al-Fao crude oil tank farm to bring it back to its old glory of the 1970’s. It was in 1976, just as Iraq nationalized its oil industry, that construction of the 16-tank complex was completed in order to cater for the big increase in oil production and export capacity that Iraq seemed destined for at…
Tag: SOC
Pumping Up Exports
ConocoPhilips today became the first lifter to load Iraqi crude from the newly opened SPM (single point mooring) in the Mideast Gulf. The new loading facility is now officially open, offering up to 500,000 b/d of export capacity on top of the 1.8 million b/d available at Basrah Oil Terminal and Khor al-Amaya Terminal. That’s more than enough to absorb the idle production capacity currently available in southern Iraq. The…
Nihad Mousa
Nihad Mousa, is the Director General of State Co for Oil Projects (Scop). She is the first Iraqi woman to hold the position of director general in the Iraqi oil ministry’s companies. In this interview with Ruba Husari in Baghdad, she spells out Scop’s role in the unprecedented expansion of the oil infrastructure that will cater for the increase in crude oil output over the next few years. Q: Scop…
Budget 2011: Who Gets What
The Iraqi 2011 federal budget voted by parliament today includes two items that are related to payments to oil companies. It stipulates a payment of $1.75 billion as participation in the production cost of oil exported including under contracts of international oil companies signed with the Kurdistan region. The second item is an allocation of $2.73 billion for investment projects of international oil companies. The budget assumes the export of…