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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.
Real Estate Bank of Iraq: Financials Banks Baghdad: 1948 S A Rumaila Operating Organization: Energy 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 ...
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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 ...
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.
Iraq has the world's 4th largest oil reserves, estimated to be more 115 billion barrels (18.3 × 10 ^ 9 m 3). [58] Some of Iraq's largest oil fields are located in the province, and most of Iraq's oil exports leave from Al Basrah Oil Terminal. [58] The Basra Oil Company (formerly South Oil Company) has its headquarters in the city. [61]
By this time the Mosul Oil Company was already operated by IPC, and when the company was granted a third concession in 1938 the Basrah Petroleum Company was created to develop assets in Iraq's southern regions. [2] The Red Line Agreement lasted until 1948 when two of the American partners broke free.