Missan Oil Company

Last updated
Republic of Iraq
Missan Oil Company
شركة نفط ميسان
Coat of arms of Iraq.svg
Emblem of Iraq
Agency overview
Headquarters Amarah, Maysan Flag of Iraq.svg
31°49′15″N47°9′43″E / 31.82083°N 47.16194°E / 31.82083; 47.16194
Agency executives
  • Ali Muarej, Director General
  • Adnan Noshisajrt, Operation division
Parent agency Ministry of Oil
Website http://www.moc.oil.gov.iq

Missan Oil Company (MOC) is a state-owned oil and gas company located in the Maysan Governorate, Iraq. The headquarters are located in the capital of the province, Amarah. [1]

Contents

Missan was spun off from South Oil Company in 2008 to expand oil activities in Maysan and to set up and oversee joint ventures with international companies to develop the province's oil fields. [2] [3] [4] [5]

The split from South Oil was seen as a political move and aroused international debates. [6]

History

Following the spin-off from South Oil in 2008, Missan initiated an international consortium to develop the Zubair oil field. As part of a series of international licensing rounds, the 20-year deal was finalized in 2010, with companies Eni (32.81%), Occidental Petroleum (23.44%) and Korea Gas Corporation (18.75%) holding stakes in the venture. Missan Oil (25%) and its partners announced plans to increase field production from 195,000 barrels per day (31,000 m3/d) to around 1,200,000 barrels per day (190,000 m3/d) and invest around $6.5 billion into the development of the field. [7]

In 2009, as part of the second round of post-war oilfield bidding held by the Iraqi government, South Oil (25%) awarded a major contract to CNPC (37.5%), Total (18.75%), and Petronas (18.75%) to develop the major Halfaya oilfield. 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 region. [9]

In 2013, MOC announced the completion of four new production wells in the Halfaya oil field. [10]

Organization

Managing Director Ali Muarij was reported to have been removed from the post in June 2011 after being charged with bad administration and failure to achieve higher oil production results during his tenure. [11] However, as of mid-2012 press reports suggested he was still in his post as head of the company. [12]

In 2014, Adnan Noshi was assigned by the Iraqi Oil Ministry as the new head of MOC. [13]

Operations

The Maysan Oil Company (MOC) is responsible for fields in the Maysan province which include six producing fields (Bazergan, Abu-Gharb, Fakka and Halfaya), as well as Majnoon, which it operates in partnership with the South Oil Company. Maysan also holds five discovered but unproducing fields, including the Huweiza, al-Rafi’e, East Rafidan, Dujeila and Kumait fields. [14] [1]

In 2013, production levels stood at around 200,000 barrels per day (32,000 m3/d), with plans to increase to 300,000 barrels per day (48,000 m3/d) by the end of the year. In 2014, production had reached 400,000 barrels per day (64,000 m3/d) and the target of 1,000,000 barrels per day (160,000 m3/d) was set for 2020. [15] [16]

Operated Oilfields

Halfaya oilfield is one of the seven biggest oilfields in Iraq, with proven reserves of around 4.1 billion barrels. [8] [17]

See also

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References

  1. 1 2 "Foreign Companies Keen to Work for Missan Oil". Iraq Business News. December 1, 2011. Retrieved November 20, 2019.
  2. ↑ Ibrahim, Waleed (Jun 28, 2008). "New Iraq oil firm aims to triple production in Maysan". Reuters. Retrieved 24 January 2010.
  3. ↑ "Iraqi Cleric Asks Followers Not to Work for Foreign Oil". The Wall Street Journal. December 20, 2010. Retrieved November 20, 2019.
  4. ↑ "Consortium Seals Iraq Oil Deal". The Wall Street Journal. May 17, 2010. Retrieved November 20, 2019.
  5. ↑ "Farmer's lawsuit demands compensation for oil land". Irak Oil Report. August 10, 2014. Retrieved November 20, 2019.
  6. ↑ "Turf War Hits Iraq's Oil Industry". The Wall Street Journal. July 30, 2008. Retrieved November 20, 2019.
  7. ↑ "Eni Consortium Finalizes Deal to Develop Iraq Oil Field". The Wall Street Journal. January 25, 2010. Retrieved November 20, 2019.
  8. 1 2 "Chinese Firm Linked to CNPC Suspected of Fraud in Iraq". Caixin6. January 3, 2014. Retrieved November 20, 2019.
  9. ↑ "Shell, Petrofac Sign Deal to Upgrade Iraqi Oil Field". The Wall Street Journal. March 31, 2011. Retrieved November 20, 2019.
  10. ↑ "Four new wells at Halfaya". Irak Oil Report. February 26, 2013. Retrieved November 20, 2019.
  11. ↑ "South Iraq Missan’s Council sacks Missan Oil Company’s DG from his post " Aswat Al-Iraq, 9 June 2011.
  12. ↑ "Missan heralds oil boom with Halfaya opening" Iraq Oil Report, 19 July 2012.
  13. ↑ "New leader for Missan Oil Company". Irak Oil Report. July 22, 2014. Retrieved November 20, 2019.
  14. ↑ "Foreign Companies Keen to Work for Missan Oil" Iraq Business News, 1 December 2011.
  15. ↑ "Missan targets 300k bpd in '13". Irak Oil Report. March 28, 2013. Retrieved January 17, 2020.
  16. ↑ "Q&A: Missan Oil Company DG Adnan Noshi Sajit". Irak Oil Report. January 21, 2015. Retrieved January 23, 2020.
  17. ↑ "Iraq, the Missan oil company completes 10 wells at Halfaya". PRP Channel. January 30, 2018. Retrieved January 23, 2020.
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