Page 4 - MEOG Week 45 2022

MEOG COMMENTARY MEOG

Offshore seismic begins as Iraqi

investments come to the fore

Iraq is pressing ahead with its first offshore seismic
campaign as major project updates emerge onshore.

IRAQ TOGETHER with state-owned China National – projectiles and mines – from the land surface”,
Offshore Oil Corp. (CNOOC), Iraq’s Oil Explo- which OEC is carrying out in co-ordination with
ration Co. (OEC) has kicked off the initial survey the Ministry of Defence, the Regional Centre for
WHAT: phase of an offshore joint study agreement, part Mine Affairs in the Ministry of Environment
CNOOC and the local OEC of an onshore/offshore deal that has been several and Basra Oil Co. (BOC). Meanwhile, CNOOC
are collaborating on an years in the making. is expected to launch a tender for qualified com-
onshore/offshore project The Arab Gulf Block Joint Study Agreement panies to bid to clean and remediate the marine
designed to increase the (AGB JSA) survey marks Iraq’s first offshore sur- area.
country’s reserves. vey and comes as the country seeks to expand its Mines are not the only area of concern, with
reserve base and the market awaits the results of ongoing disputes around Iraq’s maritime bound-
WHY: a reserve audit. ary. Local maritime affairs expert Salah Al-Basri
With a reserves audit still Meanwhile, TotalEnergies appears to be pro- told INA: “The State of Kuwait still has a prob-
ongoing, Iraq is looking gressing on its stalled mega-deal in the country lem with the base line with Iraq, because of their
to find more oil and gas, as Japan’s Inpex seeks a buyer for its stake in the objection to drawing this line and interfering
while progress appears Eridu oilfield project. with their maritime borders and considering the
to be coming on a major waters of Al-Faw as part of the Kuwaiti baseline.”
deal with TotalEnergies. Offshore/onshore He urged Iraq to develop “a map of the terri-
Speaking to the local Al Sabah newspaper and torial sea and the economic zone at the United
WHAT NEXT: the Iraqi News Agency (INA), OEC director Ali Nations and to enter into negotiations with
However, developing Jassim said that CNOOC “has started its work in neighbouring maritime countries to guarantee
its existing reserves implementing a joint study contract for 2-D seis- its sovereign rights over this part of the sea that is
is already proving a mic survey and geophysical surveys to explore restricted by the rules of international law.”
challenge in some cases, hydrocarbon gatherings in the Iraqi marine Meanwhile, Iraqi government representative
with Inpex the latest patch in the north of the Arabian Gulf.” Amer Abdul-Jabbar Ismail recently highlighted
company to consider He added: “There is an urgent government “Kuwaiti transgressions on Iraqi territorial
exiting a high-profile desire to invest and increase national reserves waters through the presence of a Kuwaiti off-
Iraqi oilfield development to keep pace with the needs of the markets, shore oil platform 5 nautical miles [9.3 km] from
project. according to expectations of finding the targeted Khor Al-Khafga and 18 nautical miles [33.3 km]
commercial quantities, similar to the riparian from the Basra oil port, which is an infringement
countries with Iraq.” on Iraq’s territorial sovereignty.”
Jassim noted that “the most important stage In January, the Iraqi National Oil Co. (INOC)
includes cleaning and removing war remnants finally concluded a deal agreed in 2019 – delayed

P4 www. NEWSBASE .com Week 45 09•November•2022