Maysan Oil Company (MOC)

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Role

The Maysan Oil Company (MOC) is responsible for fields in the Maysan province which include six producing fields (Bazergan, Abu-Gharb, Fakka and Halfaya), as well as Majnoon, which it operates in partnership with the South Oil Company. Maysan also holds five discovered but unproducing fields, including the Huweiza, al-Rafi’e, East Rafidan, Dujeila and Kumait fields.[1]

The company's headquarters are in the capital of Maysan province, Amara.[2] Managing Director Ali Muarij was reported to have been removed from the post in June 2011 after being charged with bad administration and failure to achieve higher oil production results during his tenure.[3] However as of mid-2012 press reports suggested he was still in his post as head of the company.[4]

History

Maysan Oil Company was spun off from South Oil Company in 2008 to deal with plans for expanded production in Maysan governorate.[5]

The Maysan Oil Company was created as part of a plan that aimed for each Iraqi province producing at least 100,000 barrels per day (bpd) and for each to have its own state-run oil company to focus on developing its own oil fields. Total oil output from Maysan province was between 100,000 - 110,000 bpd when the company was created,[6] and the company planned to increase output to 120,000 bpd by the end of 2011.[7] The start-up capital of the company was US $8 million, according to government statements.[8]

External links

Official Website: www.moc.oil.gov.iq

References

  1. "Foreign Companies Keen to Work for Missan Oil" Iraq Business News, 1 December 2011.
  2. "Contact Us" Missan Oil Company, retrieved 5 January 2012.
  3. "South Iraq Missan’s Council sacks Missan Oil Company’s DG from his post " Aswat Al-Iraq, 9 June 2011.
  4. "Missan heralds oil boom with Halfaya opening" Iraq Oil Report, 19 July 2012.
  5. "New Iraq oil firm aims to triple production in Maysan" Reuters, 28 June 2008.
  6. "New Iraq oil firm aims to triple production in Maysan" Reuters, 28 June 2008.
  7. "Iraq Aims to Join OPEC Quota System in 2014" Bloomberg, 26 October 2011.
  8. "New Iraq oil firm aims to triple production in Maysan" Reuters, 28 June 2008.