Tag Archive | "Khor Al-Zubair"

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)


Posted in Oil & GasComments Off

EAME Wins Zubair Terminal Contract

UK-based EAME Consultants has announced its appointment as professional environmental adviser to Zubair Terminal Company SAL (ZTC), based in Beirut and Dubai.

It was established to develop and operate a greenfield terminal project at the port of Khor al-Zubair in Iraq, in association with its strategic partners, Peel Ports Group (Portia Management Services Ltd), Beirut Container Terminal Company (International Port Management) and its Iraqi partner, Basrah-Mas Company.

ZTC, together with its international and local partners, is planning to build, operate and transfer (BOT) the first new berths to be built in Iraq in over 30 years. This strategic addition to Iraq’s leading oil and gas port will provide three new multi-use berths, contribute significantly to the economic development of the Basra region, help to fulfill the Ministry of Transport port development plan, and attract major new shipping lines.

(Source: EAME Consultants)

Posted in Construction & Engineering, TransportationComments (1)

Japanese Signs Loan Agreement with Iraq

On February 16, The Japan International Cooperation Agency (JICA) concluded a Japanese ODA loan agreement with the Republic of Iraq to provide a loan of up to 39.118 billion yen for the Port Sector Rehabilitation Project (Phase II), at the Ministry of Finance, Baghdad.

This is the 20th loan agreement under the Japanese ODA loan to Iraq, which brings Japan’s cumulative commitments to this country to over 4.4 billion dollars.

The objective of the Phase II project is to recover the functions of the Iraqi port system, by rehabilitation works related mainly to the Khor Al Zubayr Port (KZP), following the rehabilitation of the Umm Qasr Port (UQP) having been implemented under the Phase I of this project.

For Iraq, with coastal line of 48km only, rehabilitation of the UQP and KZP is vital to its national economy, as those two are the major ports that handle heavy cargoes required for the various reconstruction projects across the country.

The on-going Phase I Project, started in 2008, is covering rehabilitation works for the UQP. It has been progressing smoothly to be completed in a few months’ time, thanks to the outstanding project management by the General Company for Ports of Iraq (GCPI).

Posted in Banking & Finance, Construction & Engineering, Industry & TradeComments (2)

Petrojet wins Gas Pipeline Contract

By John Lee.

Egypt’s Petrojet has won a $100-million tender to design, supply and install the butane pipeline project from Nasiriyah to Khor Al-Zubair in Basra.

Company boss Mohamed Shemy [Mohamed Shimy] said the project is to be completed within 18 months.

According to a report from Egypt Independent, the company beat competition from Russia, China, Pakistan, Italy and Korea.

(Source: Egypt Independent)

Posted in Oil & GasComments (2)

Japan to Lend $1.2bn to Iraq for Port, Refinery

By John Lee.

Japan has offered a loans of about 120 billion yen ($1.24 billion) to Iraq to build a new refinery and rebuild a port.

Nikkei reports that Japan will initially lend 82.7 billion yen to build a refinery to extract natural gas liquids at the Rumaila oil field, while a second loan of 39.2 billion yen will be used to rebuild the port of Khor Al-Zubair.

Both loans will have a term of 40 years.

JGC Corp and Chiyoda Corp are expected to bid for the Rumaila refinery project, while Toyota Tsusho , Toyo Construction and Toa Corp are expected to bid for the Khor Al-Zubair rebuilding project, the newspaper said.

(Source: Nikkei, Reuters)

Posted in Construction & Engineering, Oil & Gas, TransportationComments Off

BIOGH Masterplan Receives Planning Approval

BIOGH has announced that the Masterplan for the Basra International Oil and Gas Free Zone has been formally approved by the Consulting Bureau of the College of Engineering at the University of Basra, and by the Iraq General Commission for Free Zones.

This planning approvals milestone represents an ongoing successful collaboration, notably with the efforts of Dr. Sabah Al-Qaisi, Director General of the Iraq General Commission of Free Zones, and his dedicated teams in Basra and Baghdad, the team at Basra University, and the BIOGH management team.

Together, this Public Private Partnership has taken a proactive, creative, and diligent path in creating, building and nurturing a new model for positive change and growth for the future of Iraq.

The creation of the BIOGH Oil and Gas Free Zone is one of the most significant investment contracts entered into by the Iraqi Free Zones Commission, strategically placed in Southern Iraq. BIOGH will be the largest oil and gas free zone in Iraq, and it will greatly increase the Free Zone’s contribution to the economy of Iraq by attracting significant foreign direct investment, technology transfer, educational opportunities, careers training and job creation over 50 years.

The training of Iraqi nationals and provision of sustainable jobs has been a driving point for BIOGH / FZ partnership as key to a successful and sustainable future for Iraq. The partnership will employ a projected 10,000 Iraqi nationals over an initial period of 12 years and this number is projected to grow as BIOGH expands. The BIOGH Free Zone will also offer training and education in core disciplines that support the growth of industry in the region.

BIOGH has made significant progress in recent months with major pre-construction, topographical, geotechnical, and UXO surveys already implemented. Pricing for the first phase of work has been finalized by the BIOGH Project Management Team.

BIOGH’s development managers EPGI are working closely with tenants on the temporary utilities and camp resources. Temporary utilities for near term delivery requirements will be used until the permanent on-site utilities are completed, in line with the Masterplan and tailored to tenants’ specific requirements.

BIOGH’s Customs and Immigration clearance facilities and fast-track approvals under agreement will be released alongside each phase as it is delivered for tenant take-up. Other permanent facilities which are in the planning and implementation phases include the infrastructure and logistics to support the transfer of goods in and out of the BIOGH Free Zone, state-of-the-art IT and security, emergency fire and medical services, banking services, hotels, business centre, mixed use commercial components, and education and training centre. There will also be a range of residential accommodations, including multi-family, serviced apartments, health and fitness centre, food service, and sports facilities.

(Source: BIOGH)

Posted in Construction & Engineering, Industry & TradeComments Off

Iraq Set to Expand Free Trade Zones

By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Iraq, with its privileged geographical location, plans to improve the performance of its three free-trade zones. It also intends to establish new free-trade zones as part of efforts to diversify its imports and lessen its reliance on oil revenues.

Three “free zones” currently operate in Iraq: Basra in the south, Nineveh in the north and al-Qaem in the west. Trade has slowed in al-Qaem, which is adjacent to the Syrian border, since the armed Syrian conflict breached Iraq’s border.

Free zones are small districts within Iraq’s political boundaries, but they are considered outside the country’s customs border. As a result, everything that comes in and out of the free zones is not subject to import and export controls and duty.

Earlier this year, Iraq agreed to a contract designed to create the first free zone in Baghdad. Some hope that these plans will help stem the tide of growing unemployment in Iraq.

The Free Zone Law in Iraq affords extensive privileges to investors. These include industrial production and consumption activities, including the assembly, manufacturing, packing, warehousing, re-export, trade and transportation, banking activities, which include insurance and reinsurance, and professional support services.

The Free Zone Authority, part of the Iraqi Ministry of Finance, is reported to have signed an investment contract for public transport and civil aviation affairs in the free zone in Khor al-Zubair in the Basra province.

Posted in Industry & TradeComments Off

Turkish Firm to Invest $700m in Steel Plant

By John Lee.

The Ministry of Industry and Minerals has signed an 18-year contract with a Turkish company to run iron and steel plant in Basra.

According to Steel Network, $700 million will be invested to bring production capacity to 1 million tonnes per year.

Work at the plant, located in the Khor Al-Zubair, is expected to take three years.

(Source: Steel Guru)

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