ShaMaran Petroleum has issued an operational update on the Pulkhana-8 re-entry well. The Pulkhana-8 Re-entry well (“PLK-8RE”) tested an average rate of 2,650 barrels of 31.6 degree API oil per day from the Upper Cretaceous Shiranish formation (high rates of up to 3,530 barrels of oil per day were recorded during the test). The well […]
The Oslo City Court yesterday fully dismissed a claim from Erik J. Frydenbø, a director in Petrolia ASA and a close associate of Berge Gerdt Larsen, demanding an investigation into the relationship between DNO International ASA's management and its largest shareholder RAK Petroleum PCL. The Court ruled in favour of DNO and awarded DNO compensation […]
Iraqi Ministry of Agriculture has completed a plan to make 10 million donums of agricultural land, equal to approximately 25,000 square kilometers, available for private investment. According to the report from AKnews, the land will be available in all Iraqi provinces, and represents about 5.7 percent of Iraq's total area. "The ministry is following high-level […]
The U.S. Embassy in Baghdad has announced that it is now accepting applications for U.S. Government-sponsored exchange programs focused on developing leadership skills. The programs provide Iraqi students and professionals with the opportunity to travel to the United States to exchange ideas and build linkages with their American colleagues. These programs work to support the […]
Dow Jones reports that Lukoil and its partners are about to award a feast of contracts to international engineering and construction companies as it moves full speed ahead with development of its supergiant West-Qurna Phase 2 in southern Iraq. The company is in the final stages of evaluating commercial and technical bids for contracts competing […]
According to a report from Reuters, with better regulation and the expected listing of the country's three main mobile phone firms, foreign investors are increasingly choosing Iraq's stock market as a lucrative investment. Iraq's bourse is still tiny in comparison with other regional or international stock markets, but a drop in violence since the peak […]
The University of Dubai (UD) recently won a grant of $500,000 (Dh 1,836,500) for its proposal to help two Iraqi universities improve the quality of their business education. The grant, awarded to UD last week by the United States Agency for International Development (USAID), was created to improve the educational system in Iraq, with an […]
The new Turkish consul general to Basra, Faruk Kaymiski, promised on Sunday that he would urge more Turkish companies to invest in the oil-rich province of Basra. AKnews reports that Kaymiski, the successor of Ali Reza Ozcu, said that when the consulate was opened in 2007, its goal was to expand the economic and social […]
The largest ever trade mission from the UK to the Kurdistan Region is taking place from 23 -28 October, focusing on the Erbil International Trade Fair. It is coordinated and led by the Middle East Association together with UK Trade & Investment and Invest Northern Ireland. The delegation is being accompanied by Meg Munn MP […]
Hermes Datacomms Middle East, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has appointed Saif Al-Azzawi as Country Manager of their Iraq operations, and Nigel Green as Head of Security and Operations for the Middle East. Al-Azzawi has worked in the telecommunications industry for the past 8 years. […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Gulf Keystone provided an update on Monday on its ongoing exploration and appraisal programme for the Shaikan, Ber Bahr and Akri-Bijeel blocks in the Kurdistan Region of Iraq. Shaikan is a major discovery with independently audited gross oil-in-place volumes of between 4.9 billion barrels to 10.8 billion barrels calculated on the P90 to P10 basis […]
