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Rumaila Operating Organization was founded by BP, PetroChina, the State Oil Marketing Organization (SOMO) and Basra Oil Company (BOC) (formerly South Oil Company (SOC)) in order to operate the 20-year rehabilitation and expansion of Rumaila oil field in southern Iraq, [1] which was discovered in 1953 and has been in operation since 1954, with extensive exploration and production since the late ...
Oil & Gas Basra: 2010 Exploration & production S A State Organization for Marketing of Oil: Industrials Business support services Baghdad: 1972 Oil marketing S A South Oil Company: Energy Oil & Gas Basra: 1970 Exploration & production S A Trade Bank of Iraq: Financials Banks Baghdad: 2003 S A UR Airlines: Civil aviation Airlines Baghdad: 2019 ...
Basra Oil Company (BOC) (Arabic: شركة نفط البصرة), formerly Iraqi South Oil Company, [1] is a national Iraqi company responsible for the oil in the south of Iraq. It is situated in Basra. BOC is one of the major fundamental formations of the Iraq National Oil Company (INOC). It was the first nucleus and the basis of national direct ...
The Rumaila oil field is a super-giant oil field [1] located in southern Iraq, approximately 50km to the south west of Basra City. [2] Discovered in 1953 by the Basrah Petroleum Company (BPC), an associate company of the Iraq Petroleum Company (IPC), [3] [4] [5] the field is estimated to contain 17 billion barrels, which accounts for 12% of Iraq's oil reserves, estimated at 143 billion barrels.
In November 2009, an ExxonMobil - Shell joint venture won a $50 billion contract to develop the 9-billion-barrels (1.4 × 10 ^ 9 m 3) West Qurna Phase I. [1] As per Iraqi Oil Ministry estimates, the project required a $25 billion investment and another $25 billion in operating fees creating approximately 100,000 jobs in the underdeveloped southern region.
The Ministry of Oil (Arabic: وزارة النفط) is the cabinet-level ministry of the Iraqi government responsible for managing and developing the natural resources (oil and gas) in Iraq. The Minister of Oil since October 2022 is Hayyan Abdul Ghani.