United Energy Group Successfully Held Iraq Block 9 Faihaa Oil Field 26th Joint Management Committee & Yamama Reservoir FDP Review Meeting

On 25th-27th August 2019，United Energy Group successfully held Iraq Block 9 Faihaa Oil Field 26th Joint Management Committee & Yamama Reservoir FDP Review Meeting in Beijing. The meeting was attended by Abdul Mahdy Hameed Hussain, Director General of Petroleum Contracts & Licensing Directorate (PCLD) Iraq Ministry of Oil & Chairman of Faihaa Oil Field Joint Management Committee (JMC), Nidhal Ismail Mohammed Al Khayat, Deputy Director of PCLD, Zhu Junfeng, CEO of United Energy Group, Mei Jingbin, General Manager of Iraq Block 9 Project, and other delegates from Iraq Ministry of Oil (MoO), Basra Oil Company (BOC) and United Energy Group.

The first day was Iraq Block 9 Faihaa Oil Field 26th Joint Management Committee Meeting. During the meeting, UEG Iraq Block 9 project team reported the working highlights after the acquisition of Kuwait Energy Company (KEC) and proposed the blueprint for future works. Afterwards, members of JMC had an in-depth discussion and many guiding proposals about the project in terms of HSSE, exploration & development, surface engineering and operation, which was finally embodied by a series of resolutions signed.

The following two days are Faihaa Field Yamama Reservoir FDP Review Meeting. During the meeting, team from UEG Technology Support Center comprehensively introduced the study results of Faihaa Field Yamama Reservoir FDP, and had a detailed discussion with Iraq FDP review team in terms of geological study, reservoir engineering, development plan, drilling & production, and surface engineering. Iraq FDP review team highly appreciated the FDP and study results.

Group Photo of Abdul Mahdy Hameed Hussain (Left), Nidhal Ismail Mohammed Al Khayat (Middle), Zhu Junfeng (Right) at Welcome Ceremony

Since taking over Iraq Block 9 project on 21st March 2019, United Energy Group has been digging into the operation, management and engineering works of the project as well as making Faihaa Field Yamama Reservoir FDP. In five months, block 9 has witnessed significant progresses on crude oil pipeline construction and new well drilling & testing relying on the great efforts paid by the whole project team, which broke the production curtailment and won Iraq Official’s approval of the commercial discovery of Faihaa Field Yamama Reservoir. This JMC & FDP Review meeting has reinforced the strengths of United Energy Group for the fast commerciality and efficient production of Block 9 on next stage.

Surface Facilities of UEG Iraq Block 9 Project

The JMC resolution and FDP elaborate the development pathway of United Energy Group for a bright future. For next step, United Energy Group will further concentrate on key works, including operation, management, engineering, exploration, development, etc., and deepen the cooperation with Iraq MoO and BOC, so as to achieve the annual target of Block 9 smoothly.