Iraq completes NOC rebranding
Iraq Iraq SOC
The rebranding was formally announced on January 5, 2016, and coincided with the establishment of a fifth national oil company: Dhi-Qar Oil Company (DQOC).
DQOC was set up with aim of managing the increased output from the like-named province and officially commenced operations earlier this week. A spin off of SOC, DQOC will administer the Garraf, Nasiriya, Subbah and Abu Amood oilfields.
SOC was founded in 1969 and up until this week managed around 80% of Iraq’s crude oil reserves and close to 65% of its gas reserves. SOCs share in the country’s production stood at about 80%.
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