Foundation Stone Successfully Laid for UEG Iraq Block-9 Faihaa Field Oil & Gas CPF Phase-1
On January 22nd 2022, the foundation stone of UEG Iraq Block-9 Faihaa Field Oil & Gas Central Processing Facility (CPF) Phase-1 was laid successfully. The CPF engineering project is one of the key projects in Block-9 which will contribute to the accomplishment of the annual production targets of Yamama and the development process of United Energy Group (UEG) in Iraq. The foundation ceremony was held under the patronage of Ihsan Abdul-Jabbar Ismail, Iraq Oil Minister & President of Iraq National Oil Company (INOC), Khalid Hamza Abbas, President of Basra Oil Company (BOC), Ali Maarij, Director General of Petroleum Contracts & Licensing Directorate (PCLD) Iraq Ministry of Oil (MoO), Song Yu, Executive President of UEG & President of Iraq Block-9, Chang Guangfa, Executive Vice President of Block-9, and other guests from MoO, Oil, BOC and China CAMC Engineering Co., Ltd (CAMCE).
The construction of Faihaa Field Oil & Gas CPF Phase-1 is being accomplished by CAMCE and CNOOC Petrochemical Engineering Co., Ltd jointly. According to Yamama Reservoir FDP Phase-1, the gross daily production of Block-9 will reach 100,000 BOE/D by the end of 2023 with the gas production reaching 130 MMSCFD at the end of 2024.
MoO, INOC and BOC is giving much attendance to the construction of Faihaa Field Oil & Gas CPF and look forward to the successful production at the end of 2023. The ceremony was held at the field site of Block-9 solemnly in the presence Ihsan Abdul-Jabbar Ismail, Iraq Oil Minister & President of INOC. According to the Iraqi traditions the minister has laid the foundation stone for Faihaa Field Oil & Gas CPF Phase-1 which brings the best wishes for the construction in the future.
Speech of Ihsan Abdul-Jabbar Ismail on Foundation Ceremony
Ihsan Abdul-Jabbar Ismail, Iraq Oil Minister & President of INOC, and Khalid Hamza Abbas, President of BOC gave speeches on the foundation ceremony respectively. They reviewed the KEC M&A process of UEG, highly recognized the achievements of UEG in improving the production of Block-9 and regarded UEG as one of the best partners of BOC.
Ihsan Abdul-Jabbar Ismail demonstrated his support and encouragement to the target of Block-9 for 100,000 BOED and emphasized the importance of Faihaa Field Oil & Gas CPF Phase-1. Faihaa Field – which can be found near to the Iraqi Iranian border – is one of the major oil fields in Iraq and possesses high quality oil while it is the first development project oil and gas of Yamama reservoirs also. The further completion of the CPF will not just make great contribution to the oils and gas production increase in Iraq but potentiate stable operation of affiliated power plant. The production rise can subservience the increase of the financial revenue of Iraq, which can lead to the improvement of the government's capability for public services.
Group photo of guests on Foundation Ceremony
Song Yu, Executive President of UEG & President of Iraq Block-9, warmly welcomed and thanked to being instrumental to all guests in this significant moment. He reviewed the achievements of Block-9 in the speech and described the conception in the future. He showed sincere thanks to MoO, BOC and other partners again for their supports, and called for the best wishes for the smooth construction of Faihaa Field Oil & Gas CPF. Finally, he invited all guests to return to Block-9 witnessing the successful production two years later.
Group photo of the guests on the OGS
Iraq's Block-9 Faihaa Field is one of the core assets of Kuwait Energy Co. Ltd (KEC) which has been acquired by UEG for nearly one billion USD in March 2019. Since the completion of M&A procedure, UEG, holding the principle of leading Chinese companies to go global, had a leap up development in Iraq through efficient team building, effective asset integration, advantageous management and close cooperation with well-known corporate in the field of surface engineering and drilling services. Block-9 has finished the approval of DOC for Yamama Reservoirs, 38 km of 16-inch light oil pipeline construction, first commercial production and achievements already – all with the appreciation of the MoO and BOC.
Facing the challenges of COVID-19 and global economy decline, Block-9 team shows high persistence towards the operation at frontline and keeps a firmly increasing trend of production. The gross daily production of Block-9 has reached 55 thousand BOE/D already which is approximately 400% higher than that at the beginning of operation after M&A.
Although there were several major achievements executed by UEG Iraq Block-9 during the past years, a starting point for another journey to procreate a modern CPF situated in the field has arrived. UEG will continue exercising the influence of its operational and managerial advantages and cultivating the exploration potential of Iraq assets. As the idea is being accomplished day by day our company is continuing the march to the goal of being a fast-growing midsize international energy group.