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After the deal was completed, MOC took over operations and ownership from South Oil, and the final 20-year contract was signed in January 2012. [8] In 2010, MOC signed technical service contracts with CNPC and CNOOC. In 2011, Missan Oil signed another contract with Shell (45%) and Petronas (30%), to develop the Majnoon oil field in the Basra ...
North Oil Company: Energy Oil & Gas Kirkuk: 1928 Exploration & production S A Qi Card: Financial services Credit cards & payment systems Baghdad: 2007 Semi-public corporation P A Rafidain Bank: Financials Banks Baghdad: 1941 Largest bank in Iraq S A Rasheed Bank: Financials Banks Baghdad: 1988 Second largest bank in Iraq S A Real Estate Bank of ...
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 ...
Shell was the operator and holder of 45 percent stake at Majnoon, with Malaysia's Petronas owning 30 percent, and Iraq's Missan Oil Company holding the remaining 25 percent. In June 2018 officials from Shell and Basra Oil Company met to mark the handing over of the operations of the field.
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A map of world oil reserves according to U.S. EIA, 2017 See: Oil reserves in Iraq According to the Oil and Gas Journal, Iraq's proven oil reserves are 115 billion barrels, although these statistics have not been revised since 2001 and are largely based on 2-D seismic data from nearly three decades ago.
The Iraqi Ministry of Oil (MoO) Master Plan 2007 included the Iraq Crude Oil Export Expansion Project (ICOEEP) to expand the South Oil Company's export capacity from 1.75 Mbbl (278,000 m 3) of oil per day (MMBOPD) to 4.5 Mbbl (720,000 m 3) of oil per day by 2014.
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.