By John Lee.

Sonangol has said it plans to increase production at its Najmah and Qayara oilfields to about 230,000 barrels per day (bpd).

The Angolan state oil company owns 75 percent of the oilfields, south of the city of Mosul, with estimated oil reserves of more than 1 billion barrels.

Output at Qayara is currently 40,000 bpd.

(Source: Reuters)

By John Lee.

A recent report suggests that, in the uncertainty following the recent Angolan election, the Iraqi assets of the state-owned oil company Sonangol are in play.

Writing in Seeking Alpha, Jay Currie says the the Najmah and Qaiyarah [Qayara] oil fields may be transferred to Russian service company Eurasia Drilling, and questions the involvement of two Jordanian consultants and a Hong Kong-based company called United Energy Group.

The full article can be read here.

(Source: Seeking Alpha)

(Picture: Oil Minister Luaibi with Sonangol’s Edson Dos Santos, Baghdad, 30th August 2017)

By John Lee.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] held a meeting with Edson Dos Santos, a director of Angolan oil company Sonangol, saying that he required the company to restart work in the Qayara and Najmah oil fields.

According to a statement from the Ministry of Oil, Edison said his company was ready to restart the work at the fields and to achieve the demanded targets.

Sonangol pulled out of these fields in 2014 due to security problems.

(Source: Ministry of Oil)

By John Lee.

Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has told the Angolan oil company Sonangol to resume its work in developing the Qayara and Najmah oil fields in Nineveh governorate.

In 2010 Sonangol was granted a 75-percent stake in the fields, along with North Oil Company (25%), at a price of $6.00 per barrel, but it pulled out in 2014 following the invasion by the Islamic State group (IS, ISIS, ISIL, Daesh).

The fields have since been liberated from IS, and the fires at many of the oil wells have been extinguished.

At a meeting in Baghdad on Wednesday with Sonangol director Edson dos Santos, the Minister demanded that the company resumes work at the fields by the end of February.

(Source: Ministry of Oil)

By John Lee.

Angola’s Sonangol has decided to abandon its Qayara and Najmah oilfields in Nineveh province due to security problems.

Reuters reports that Anabela Fonseca, Sonangol board member in charge of international investments, told a news conference:

Our presence in Iraq was as an operator in an area with much conflict. Last year we were unable to develop any work due to security matters … and so we took the decision to leave.

The state-owned company won the right to operate the fields in 2009, taking a 75 percent stake. Reserves are estimated at about 800 million barrels for Qayara and 900 million for Najmah.

Earlier this month, the Ministry of Oil said it would not hold Sonangol to its committed schedule at the oilfields, as a result of the problems faced by the company.

(Sources: Reuters, Iraq Oil Report, Aswat al Iraq)

An Oil Ministry spokesman has said that the ministry “will not put time limit for the Angolan oil company [Sonangol] in developing Najma and Qayara oilfield, due to the security obstacles facing it in these areas”.

According to the report from Aswat Al Iraq, the company suffered terrorist attacks on its personnel and sites, so the ministry is giving the company additional time to complete its work.

The company got its permission in the second oil bids of 2010 to develop the two sites for nine years.

At Najma, it will get $5 per barrel, provided that the production average is at least 210.000 bpd, while at Qayara it will get $6 per barrel, provided the average is at least 110.000 bpd for nine years.

(Source: Aswat Al Iraq)