Tag Archive | "Basra"

The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News

More Chinese Trains Delivered


By John Lee.

Iraq has received a second shipment of two new trains from China.

Of the ten units ordered, this brings the total delivered to four, with the balance to be delivered by the end of the year.

The total value of the contract is $138 million (161 billion Iraqi dinars).

Chairman of the Ports Committee of Basra Council, Murtaza Shahmani, told the National Iraqi News Agency the trains will join the fleet servicing the Baghdad- Basra route, and will be ready for the start within days.

(Sources: NINA, Basra Council)

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$240m Iraq Desalination Contract


By John Lee.

A consortium has been awarded a $240-million engineering, procurement, and construction (EPC) order from Iraq’s Ministry of Municipalities and Public Works to build pretreatment facilities at a desalination plant in Basra.

Japan’s Hitachi and Veolia Environnement of France have won $100 million of the total, with Egyptian engineering firm ArabCo getting the rest for civil engineering, construction, and on- site installation work.

Construction is scheduled to begin in immediately, with completion scheduled for April 2017.

The pretreatment facilities include surrounding river water intake facilities and water transport networks, for which he Japanese government has provided loan assistance.

According to WaterWorld, the contract is an addition to an earlier EPC and five-year operation and maintenance deal, won by the Franco-Japanese consortium, for the Basra plant.

The Basra reverse osmosis (RO) desalination plant will be the largest facility of its kind in Iraq, capable of supplying drinking water at 199,000 m3/d.

(Sources: Desalination & Water Reuse, WaterWorld)

Posted in Construction & Engineering, Public WorksComments (0)

Transworld Group, NAWAH Partner on Ports


Dubai-headquartered companies Transworld Group and NAWAH [North America Western Asia Holdings] have announced that the two firms have entered into a formal agreement to service Iraq’s growing demand for imports, linking their considerable shipping, logistics, marine services and port capabilities.

As part of their agreement, Transworld Group and NAWAH Port Management, NAWAH’s port operations business unit, will team up to increase the flow of essential goods coming from the broader Middle East, Indian subcontinent, Far East and Southeast Asia into the historic Port of Basra with seamless linkage to commercial centers throughout Iraq.

Ritesh S. Ramakrishnan, Transworld Group’s director of strategy and business planning, said:

“Iraq stands at such an important moment of time – historically and commercially – and we are keen to play a part in this phase of growth.

“The sheer scale and magnitude of development occurring today in Iraq, along with a growing middle class, requires logistical flows of epic proportions.

“Aligning with NAWAH provides Transworld Group with first-class logistics solutions and unrivaled port operations in Basra and one of the most reliable door-to-door capabilities in Iraq.”

Nicholas Kunesh, NAWAH Port Management’s president and CEO, said:

“Together with Transworld Group’s four decades of shipping experience and NAWAH’s in-depth knowledge and operational capabilities within Iraq, we are confident that we will redefine logistics in the Middle East.

“Through our combined expertise, market reach, state-of-the-art technology and customer-focused shipping and logistics services, we will enable Basra to continue its accelerated march to becoming a key strategic trading center in the Middle East, bridging East and West.”

Transworld Group and NAWAH have already initiated joint cargo movement from Jebel Ali Port to NPM’s Port of Basra terminal with containers from Transworld Group’s Balaji Shipping Lines transiting via NPM’s feeder vessel service into southern Iraq. Containerized and refrigerated cargo volume is forecasted to grow substantially in the next six months.

(Source: Transworld)

Posted in Construction & Engineering, TransportationComments (0)

Petrofac Wins $500m Rumaila Contract


By John Lee.

Petrofac has also been awarded a major contract in Iraq to provide general construction management services to BP Iraq NV (BP) on the Rumaila field near Basra.

Petrofac will provide management and personnel to manage brownfield modifications to assist BP – and its partners in the Rumaila Operations Organisation (ROO), China National Petroleum Company (CNPC) and South Oil Company (SOC) – in executing its strategy to rapidly and safely increase production from what is one of the world’s largest fields.

The contract, which runs for three years, with an option for further extension of two years, has a potential value of up to $500 million.

Petrofac will provide the overall management and co-ordination of multiple construction projects, including construction management and supervision of work undertaken by third party contractors on the field, 32 km from the Kuwaiti border.

Mani Rajapathy, Senior Vice President, MENA/CIS, said:

“The award builds on an established track record for Petrofac in Iraq, in particular at Rumaila, dating back to 2011. We look forward to sharing in the continued success of the regeneration of Rumaila.”

(Source: Petrofac)

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Basra Oil Wealth to Build Iraq


By John Lee.

Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] has reportedly promised to make Basra the economic capital of Iraq, but added that there are many obstacles to be solved in achieving this.

During a visit to oil and gas installations in southern Iraq, the Minister pointed out the importance of the South Oil Company (SOC) to Iraqi revenues, and said that there would be an increase in oil production levels that would benefit all the people of Iraq.

These are not just promises,” he said, “our aim is to build Iraq.

(Source: UPI, Aswat al Iraq, Ministry of Oil)

Posted in Oil & GasComments (0)

Iraq Oil Exports Up for July


By Patrick Schmidt.

According to a statement released by the Ministry of Oil, Iraq exported 75.7 million barrels of oil in July. This figure means that an average of 2.5 million barrels were exported per day and would mark a five percent increase in exports since July 2013.

Iraq earned $7.74 billion worth of revenue from oil sales in July alone.

The oil sold over the past month came from Basra province, as Iraq has not been able to export crude from its northern oil fields because of the advance of the Islamic State (IS).

(Source: Business Standard)

 

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KOGAS in $4.9 Billion Project


By Patrick Schmidt.

On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project.

The investment will help establish the facilities needed to launch the project and help Zubair reach its potential of over 800,000 barrel per day production. KOGAS have a 23% stake in the Zubair field, while other stakeholders include Italy’s ENI and US firm Occidental Petroleum.

Zubair remains one of the key oil fields in the south of Iraq, located far from the violence in the centre and north of the country. A spokesman from KOGAS noted,

“The turmoil in Iraq is occurring in northwestern Iraq, which is located a considerable distance from the Zubair field, so it has not disrupted our output.’’

(Source: Reuters)

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Shell wants Pier and Petrochemical Factory


By John Lee.

Shell has had discussions with Iraqi Ports Administration regarding the possibility of acquiring a piece of land at the Umm Qasr terminal to build a pier and petrochemical factory.

According to Aswat Al Iraq, talks between the two sides were held to discuss the project which shall be administered by the company on a joint operation basis.

Earlier, Iraqi Ports Administration announced the development of Umm Qasr terminal and providing the other side of the bank for investment to build 13 piers.

(Source: Aswat Al Iraq)

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