ID :
701319
Tue, 07/15/2025 - 11:39
Auther :
NINA
Shortlink :
https://oananews.org//node/701319
The shortlink copeid

North Oil Company And US Company HKN Sign An Agreement Of Principles To Develop Hamrin Field

Baghdad/NINA/-The North Oil Company and the American company HKN signed a preliminary agreement to develop the Hamrin field.

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani affirmed in a statement the ministry's keenness to cooperate with reputable American, Western, and other international companies, with the aim of developing oil fields, optimally utilizing gas, and maximizing production capacities in support of the national economy.

During his attendance at the signing ceremony of the preliminary agreement on Tuesday, the minister said, "The ministry seeks to raise the field's production rates to 60,000 barrels per day, in addition to investing 45-50 million cubic meters of associated gas to fuel power plants. He noted that the Hamrin field is a productive field, with current production rates ranging from 20,000 to 25,000 barrels per day, despite the economic and security challenges."

The minister pointed to Iraq's aspirations for joint cooperation with reputable American companies, explaining that there are numerous negotiations underway to invest in the oil, gas, and energy sectors.

The signing ceremony was attended, according to the statement, by the Ministry's undersecretaries, the Chargé d'Affaires of the US Embassy, the Prime Minister's Advisor, and a number of general managers at the Ministry's headquarters.

US Chargé d'Affaires Stephen Fagin said, "We are pleased to attend today's signing ceremony at the Iraqi Ministry of Oil. We are also pleased that an American company is investing in Iraq, and we would like to see more business with Iraq."

The statement quoted Amer Khalil, General Manager of the North Oil Company, as saying, "The agreement that was signed will serve as the basis for signing the development contract later." He noted that the contract aims to develop all oil wells in the field and train personnel, and contributes to securing gas fuel to operate power plants and employ Iraqi workers.

Matthew Zeiss, Vice President of HKN, said, "We are very proud to work and cooperate with the Ministry of Oil. Our goal is to develop the Hamrin field to its maximum capacity, utilize Iraqi capabilities, and operate 80% of the field, in addition to developing the local community in the work area."/ End 
 

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