Russia’s Lukoil announced on Friday that it has it awarded a 3D seismic contract at Iraq’s West Qurna Phase 2 oil field to Terra Seis Trading Ltd. [Terraseis] (TSTL).

TSTL has been conducting seismic exploration in Iraq since 2005 and “possesses vast operational economic and legal experience, and is well aware of the country’s natural and climatic conditions“.

The contract is set to run 9 months with a 3D seismic exploration scope of 540 square kilometers, but the value of the contract has not been revealed.

The pilot survey is scheduled for the beginning of December, while the seismic convoys will enter the contract area in the middle of December.

The data obtained will allow the Company to clarify the geological structure of the area under exploration and to develop a comprehensive seismic-facial field model.

The Russian company along with Norway’s Statoil won the right to develop the 13-billion barrel West Qurna Phase 2 in Iraq’s second postwar licensing auction held in Baghdad in December of last year.

Under the terms of the 20-year-long service contract, Lukoil and Statoil are required to pump at a rate of 1.8 million barrels a day for payment of $1.15 a barrel. That production target needs to be reached in 2017.

Lukoil holds a 56.25% stake in the project, Statoil 18.75% and the Iraqi state company holds the remaining 25%.

(Sources: Lukoil, Wall Street Journal)

The Kurdistan Regional Government has requested declarations of interest from companies wishing to participate in tourism projects in the Dukan region (pictured).

The following is the un-edited text of their announcement:

Declaration to all investment companies, local and foreign businesses:

Within the ongoing efforts of the Kurdistan Regional Government and direct supervision of the Directorate General of Investment in Sulaymaniyah, a set of tourist land in Dukan district erased & allocated as preparation for the establishment of tourism projects in order to participate in the development tourism sector in the region and work to attract tourists from inside and outside the region.

The Directorate General of investment in Sulaymaniyah with relevant parties has allocated the lands, which are in different areas in Dukan district for the purpose of constructing several tourism projects.

The investors, businesses and tourist companies who have interest to set up tourism projects in the district of Dukan to submit their applications within fifteen (15) days from the date of publication of this notice in the official newspapers, which begins on 28/10/2010 by a formal letter submitted to the Directorate General of Investment in Sulaymaniyah. The Directorate considers the applications submitted for approval, the following applications and documents should be provided and taken into account as criteria in determining the investors:

1- A hardbound profile of the company and its business reputation

2- Previous or similar projects

3- Certificates supplied by specialized international companies in the

Field of tourism

4- Financial report on the company

For more information, please contact:

Director-General of Investment in Sulaymaniyah,

Mr. Farman Gharib Saed

Director General of Investment in Sulaymaniyah

Mobile Number: +9647701570577

E-mail: farman200511@yahoo.com

An official in Diwaniya said on Friday evening that the Iraqi Ministry of Tourism has allocated 3.5bn Iraqi Dinars (ID) [$3m] to the rehabilitation of the Neipur [Nippur] archaeological city south of Diwaniya, 180 km south of Baghdad.

Dakhil al-Kanani, the head of the Supreme Committee of the Niepur cultural festival in Diwaniya province told AKnews that the rehabilitation of the city will begin this year in order to complete the work quickly, allowing tourists from all over the world visit this important archeological site.

The ancient city of Niepur (35 km south of Diwaniya) was an important capital over 5,000 years ago. It is one of the oldest cities in Iraq.

(Source: AKnews)

Request for expressions of interest: Technical assistance to Kurdistan Investment Board

The Kurdistan Board of Investment of the Kurdistan Regional Government (BoI – KRG) seeks professional assistance to enhance the quality of the board’s evaluation process from various perspectives, including the technical review and assessment of the investment proposals submitted to the board.

The main aim of this process is to create a better investment environment, greater coordination between the public and private sector, and more transparency; to minimise red tape; and to revise current procedures and the organisational structure.

Companies or organisations (international consultancy firms, advisory firms, international NGOs and law firms) that are eligible are those with at least five years of documented successful experience gained within the last five years, in providing the services requested by BoI – KRG.

Deadline for Letters of Interest: 7 November 2010
The interested consultancy firms that wish to enter the process will receive a Request for Proposals (RFP) by submitting a Letter of Interest (LOI) before 7 November 2010.

Contact
Please contact
Mr Hayder Mustafa
Director General for Studies and Information
Kurdistan Board of lnvestment
Kurdistan Regional Government
Erbil, Kurdistan Region

Telephone: +964 (0)750 445 0447

Email: hayder.sinjawi(at)krg.org ; hsinjawi(at)yahoo.com

AKnews reports that 12 Danish companies are planning to open representative offices in the Kurdistan Region.

The report follows the visit from a Danish trade and industry delegation to Erbil this week.

The Kurdistan Regional Government (KRG)’s coordinator in Denmark, Dlawar Azhgayi, told AKnews the delegation sought to introduce the companies to the Region as investors in agriculture, foodstuff, medical supplies and heavy industry.

He added the would-be investors do not intend only to import goods into the Region but also to site operations in the Region.

The Danish government has an honorary consulate in the Kurdistan Region and is also expected to open a trade office.

The relatively stable security of Kurdistan has attracted 18 countries to set up consulates in the Region.

(Source: AKnews)

A group of Russian companies has been offered the project to build a monorail in Baghdad, according to Aswat al-Iraq.

“Baghdad’s Hanging Train [monorail?] project, offered tp Russian companies, is expected to stretch for 25 kms, with a total capacity of 10,000 passengers per hour, through 16 stations, distributed between Baghdad’s two banks of Rusafa and Karkkh,” Deputy Governor of Baghdad, Kamel Al-Saadi said told the agency on Saturday.

He said that the train would follow two routes, the first beginning from East Baghdad’s Shaab district, passing through Mustansiriya, Kazimiya and end in central Baghdad’s Alawi al-Hilla, whilst the other begins from west Baghdad’s Yarmouk district, passing through Muthann Airport and also ending in Alawi al-Hilla.

In June, Canadian company TransGlobim International won the contract to build a monorail in the holy city of Najaf.

(Source: Aswat al-Iraq)

Basra’s Council approved an energy project worth 288 billion dinars [$246m] on Thursday, a vice president of the Basra council told Aswat al-Iraq news agency.

“The council approved during its regular session an energy project to establish four generating units with a production capacity of 400kv (sic) at the al-Najiebiya electricity plant,” Ahmad al-Salieti is reported as saying.

These figures do not make sense to IBN – we’re guessing they meant 288 million dinars to build 400 KW of capacity.

(Source: Aswat al-Iraq)

Iraq’s Industry Ministry has signed a contract with a Chinese company to produce thermal bricks, a spokesperson of the ministry said on Thursday.

“The thermal industries company signed a contract with a Chinese company to carry out a project to produce thermal bricks,” Hanaa al-Husseini told Aswat al-Iraq news agency.

“The ministry has allocated 25 billion dinars [$21m] for future projects, including the light thermal bricks project,” she added.

(Source: Aswat al-Iraq)