Tag Archives | Japan

The latest Japan – Iraq News – Japanese, Jogmec, economic, investment, oil, gas, Basra & more – brought to you by Iraq Business News

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Lukoil confirms Geological Model for Eridu Field

Russia’s Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq. The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective. ​ Lukoil continues geological exploration at Block 10. For instance, […]

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Japan and Iraq to form a Joint Rebuilding Fund

His Excellency Prime Minister Adil Abd Al-Mahdi expressed his country’s pride in the level of relations with Japan, commended the Japanese government for its support in the fields of security, stability, reconstruction projects, economic and cultural cooperation. His Excellency said during his reception to the Japanese Prime Minister’s Special Adviser Kentaro Sonoura and his accompanying […]

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BGC to Increase Gas Output by 16% by end-Dec

By John Lee. The Basra Gas Company (BGC) is expected to increase production from its current level of 900 million cubic feet per day (mcf/d) to 1,050 mcf/d by the end of this year. A statement from the Ministry of Oil on Thursday added that the project aims to reach a target of 2,000 mcf/d […]

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Japan Supports Development of Water Supply and Irrigation

JICA to Support Reconstruction through Development and Rehabilitation of Water Supply and Irrigation Facilities: On 3 May, 2018, the Japan International Cooperation Agency (JICA) and the Iraqi Government signed two loan agreements at Ministry of Finance in Baghdad. These two ODA (Official Development Assistance) loans, amounting to JPY 34,880 million (approximately USD 329 million) in […]

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Shell plans Major Expansion at BGC

By John Lee. Having sold its stake in the West Qurna 1 project to Japan’s Itochu, Shell is now said to be “fully committed” to the giant Basra Gas Company (BGC), which captures gas from Iraq’s southern oilfields. Frits Klap, managing director of BGC, told Reuters that processing capacity has more than tripled to 938 […]

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Abadi visits Japan to Boost Trade

Prime Minister Haider al-Abadi has arrived in Tokyo for discussions with major Japanese industry and government. He met the CEO of Sumitomo Corporation, Kuniharu Nakamura to discuss future projects in Iraq, including the establishment of factories for car manufacturing in Iraq and providing after-sales services. He also met Hiroyuki Ishige, Chairman and CEO of the […]

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Japan contributes $4.5m for Explosive Hazard Clearance

Japan’s USD 4.5 million contribution for emergency response extends support for explosive hazard clearance in Iraq The United Nations Mine Action Service (UNMAS) welcomes the contribution of USD 4.5 million from the Government of Japan to support the UNMAS Iraq emergency response related to on-going humanitarian and stabilization efforts in liberated areas contaminated with explosive […]

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Iraq may build Oil Storage in Japan, South Korea

By John Lee. Reuters reports that Iraq is studying the possibility of building crude oil storage facilities in South Korea and Japan. Alaa al-Yasiri, head of the State Oil Marketing Organization (SOMO), said the move is part of a plan to increase sales to Asian clients: “SOMO’s new strategy is to form trade arms in […]

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Shell Sells West Qurna-1 stake for $406m

Shell EP Middle East Holdings B.V. has agreed to sell the entire share capital of Shell Iraq B.V (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of Japan’s Itochu Corporation. The purchaser will also assume debt of $144 million as part of the transaction. […]

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