15 Apr 2010
(MENAFN) The Iraqi government said that it has ratified the establishment of a fourth state oil company responsible for overseeing development in recently auctioned fields in the center of the country, Reuters reported.
Midland Oil Co, or MOC, will be tasked with managing the East Baghdad oil field which was not awarded in the country’s second licensing auction held in December last year. Its capital will be $90 million
The new company will also manage the Badra oil field in southeast of Baghdad. The field was awarded to a consortium led by Russia’s Gazprom at the second bidding round in December.
Iraq, which sits on the world’s third largest oil reserves, concluded late last year and early this year, that 10 major oil deals with international oil companies that are expected to quadruple the country’s current crude oil production.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more