Basra Oil Company (BOC) is a national

Iraq Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq ...

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common p ...

responsible for the oil in the south of

. It is situated in

Basra Basra ( ar, ٱلْبَصْرَة, al-Baṣrah) is an Iraqi city located on the Shatt al-Arab. It had an estimated population of 1.4 million in 2018. Basra is also Iraq's main port, although it does not have deep water access, which is hand ...

. BOC is one of the major fundamental formations of the

Iraq National Oil Company The Iraq National Oil Company (INOC) was founded in 1966 by the Iraqi government. It was empowered to operate all aspects of the oil industry in Iraq except for refining which was already being run by the Oil Refineries Administration (1952) and ...

(INOC). It was the first nucleus and the basis of national direct investment projects in the 1970s, where the BOC was subsidiary to the national company.

Development

Events and activities have escalated steadily and rapidly, rising since the beginning of the 1970s. Investment and development stages of the north

Rumaila field The Rumaila oil field is a super-giant oil field located in southern Iraq, approximately from the Kuwaiti border. Discovered in 1953 by the Basrah Petroleum Company (BPC), an associate company of the Iraq Petroleum Company (IPC), the field is e ...

were completed in three stages, leading to a rate of production of 42 million tons per year and this coincided with the expansion of works in all fields. The expansion began with drilling works, building and expanding production facilities, and implementing investment projects associated with natural gas fields in north and south Rumaila. Also developing new fields in Luhais, Saba, Nuhran Ben Ummer and oil fields in

Maysan , image_map = Maysan in Iraq.svg , mapsize = 200px , settlement_type = Governorate , subdivision_type = Country , subdivision_name = , subdivision_t ...

. Laying out an exporting pipe line, expanding export facilities and infrastructure sites for the company.

Provision for staff

The company has provided housing and health care for staff and achieved ambitious plans in the fields of rehabilitation and development. It has created institutes and centers for training, technical and administrative development.

Nationalization

During the mid–1970s there was a decree to

nationalize Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to pri ...

the Basra oil company (BOC) and the activities of the Erab company in Maysan. There was attachment to the oil operation and establishment of the national oil company. The BOC was classified as the first company in Iraq and the eighth in production rating for global oil companies. The company activities covered a geographical area of 180,000 m² stretching from the

Persian Gulf The Persian Gulf ( fa, خلیج فارس, translit=xalij-e fârs, lit=Gulf of Persis, Fars, ), sometimes called the ( ar, اَلْخَلِيْجُ ٱلْعَرَبِيُّ, Al-Khalīj al-ˁArabī), is a Mediterranean sea (oceanography), me ...

to Hadeth. During the 1970s the maximum rate of production from the south field was and the planned limit was .

War damage

The BOC was exposed to substantial damage during the

Gulf War The Gulf War was a 1990–1991 armed campaign waged by a 35-country military coalition in response to the Iraqi invasion of Kuwait. Spearheaded by the United States, the coalition's efforts against Iraq were carried out in two key phases: ...

of 1990–1991. This reduced the production level to before the events of the year 2003. After the events of the year 2003, the whole of the fields, establishments and facilities of the company were damaged by vandalism, theft, arson and destruction. The destruction ratio was 80–90% of the BOC's property. This caused production to drop to .

Reconstruction

By extensive and intensive reconstruction the company managed to increase production to during the month of June the same year. It exported the first shipment of oil from the company's port during the same month. Thanks to the efforts of the staff, the company was able to restore production to during the first quarter of the year 2004.

Artificial Island

In 2019, the company has entered into a deal with a giant Holland-based construction company, Boskalis, In what may be the largest offshore infrastructure project ever, Boskalis has undertaken over a three-year period to build the company an artificial island that will bring in oil through two new pipelines and send it out to the world through four marine docks. The project will add 3 million barrels per day to Iraq's export capacity.

External links

http://www.boc.oil.gov.iq
* Changing the name of the Company: http://www.iraqtradelinknews.com/2017/04/name-of-iraqi-south-oil-company-changed.html {{authority control Oil and gas companies of Iraq Government-owned companies of Iraq