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ExxonMobil has signed a Heads of Agreement (HoA) with Iraq's Basra Oil Company and the State Oil Marketing Organization (SOMO) to manage, develop, and operate the Majnoon oil field in southern Iraq. This marks ExxonMobil's return to Iraq after a two-year hiatus.
The Majnoon oil field, located approximately 60 kilometers from Basra, is one of the world's largest oil fields, with estimated reserves of 38 billion barrels.
The agreement includes plans to enhance Iraq's southern oil export infrastructure and establish a profit-sharing arrangement for crude oil and refined products. Additionally, SOMO will collaborate with ExxonMobil to secure storage capacity in Asia, particularly in Singapore, where ExxonMobil owns relevant storage tanks.
ExxonMobil was among the first Western oil companies to enter Iraq in 2010, following the country's efforts to rebuild its energy sector after years of conflict. However, the company exited the West Qurna-1 oil field in early 2024 due to challenging contractual terms and political instability. The Majnoon field, which has attracted interest from major oil companies, has faced challenges related to profit-sharing agreements, leading to Shell's departure in 2017.
In the development of the Majnoon oil field, clad plates could be utilized in various applications to enhance the durability and efficiency of equipment:
Heat Exchangers: Clad plates can provide excellent resistance to corrosion and high temperatures, making them ideal for heat exchangers used in crude oil processing.
Pressure Vessels: The combination of materials in clad plates offers strength and resistance to aggressive chemicals, suitable for pressure vessels in oil refining processes.
Piping Systems: Clad plates can be used in piping systems to transport corrosive fluids, reducing maintenance costs and extending service life.
The application of clad plates in these areas can contribute to the efficiency and longevity of operations in the Majnoon oil field development.
Nanjing Fugo New Material Tech Co., Ltd. (Fugo Tech) is an ISO 9001 and PED 2014/68/EU certified manufacturer specializing in Clad Material (Explosive Clad Plates & Rolled Clad Plates/Clad Dish Heads/Clad Tube Sheets) and Titanium, Nickel Alloy, Copper Alloy and Stainless Steel products (Pipe/Tube/Fitting/Flange/Forging) which are widely used in the Heat Exchanger, Pressure Vessel, Reactor, Column, Tower, and other process equipment.
Fugo Tech offers different material combinations of Clad Plate (Explosion-welded clad plate/composite plate & Rolled-welded clad plate/composite plate) , and also offers a wide range of materials, including Titanium, Nickel Alloy, Copper, Cu-Ni, and Stainless Steel, along with custom processing services (Tube Sheet drilling, and Dish Head forming) for Oil & Gas, Petrochemical, Chemical, Energy, Paper & Pulp, Marine, Shipbuilding, Environment, Metallurgy, and New Energy Vehicles, with a strong focus on high-performance Clad Plate & Titanium & Nickel Alloy & Stainless Steel solutions.
For any new requirement, please contact: sales@fugo-tech.com
Fugo Tech is focused on the manufacturing of clad metal plate and distributes the Stainless Steel, Titanium, Nickel Alloy, Zirconium and other non-ferrous metal pipes, fittings, flanges, and fasteners.
