Sterling Energy has issued its Interim Management Statement for the period beginning 1 July 2011. Angus MacAskill, Sterling's Chief Executive, said: "We are pleased with the progress made towards introducing a partner to the Ntem block in Cameroon and expect to complete the process by the end of 2011. "Following the disappointing results of the […]
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ExxonMobil, BP and Eni plan to spend around $100 billion to upgrade their three oilfields in southern Iraq, Thamer Ghadhban, top energy adviser to the Iraqi Prime Minister said on Wednesday. According to the report from the Wall Street Jounal, some $50 billion would be spent to upgrade Exxon's supergiant West Qurna Phase 1 oilfield, […]
Dow Jones reports that Iraq has agreed with oil majors to build a multi-billion-dollar oil field water injection plant in the south of the country, after disagreement over costs that suspended the project for months. The water injection project aims to provide water to maintain reservoir pressure to fields such as Rumaila, West Qurna Phase […]
By Dr Thamir Uqaili Dr Uqaili is E&P Consultant and CEO of Petroconsult Canada & Associates. He has BSc in Oil Technology and PhD in Petroleum Engineering form the Imperial College in addition to MSc in Water Resources Technology from Birmingham University. Dr Uqaili worked in over ten countries including some 35 years in Iraq, […]
Iraq's South Oil Company has awarded Italy's Saipem the EPIC contract for the Iraq Crude Oil Export Expansion Project – Phase 2, within the framework of the expansion of the Basra Oil Terminal (ABOT), off the Al Faw Peninsula in the Arabian Gulf, approximately 550 kilometres south-east of Baghdad. The contract encompasses the engineering, procurement, […]
Kurdistan’s private sector held a press conference on Wednesday to announce the forthcoming 7th annual Erbil International Trade Fair, Iraq’s largest general fair. The trade fair this year, which takes place from 24 to 27 October, will be the largest in terms of size and the number of companies, highlighting the rapid economic growth in […]
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. One of the pleasures of writing this column is that it gives me an opportunity to challenge a few myths. One of which is the view that UK businesses are lagging […]
Umm Qasr port administration has announced the seizure of materials contaminated with radioactive isotopes imported from Japan, according to Aswat al-Iraq. A source told the news agency that an imported fork-lift, heading for the private sector, was discovered to have been contaminated by radiation. No information was given on the volume of radiation in the […]
CommLab India has been awarded an eLearning contract by Iraq's Ministry of Oil. This turnkey project is the first of its kind for the Ministry of Oil. The first phase of this project involves a one-year pilot across three of their locations – a refinery, a training center and the oil ministry. CommLab India will […]
Morris Corporation, owned by Brisbane-based Robert McVicker, is suing one of the biggest US military contractors, Kellogg Brown & Root (KBR), for millions of dollars following the abrupt termination of an Iraq deal in mid-2003. According to the report from the Sydney Morning Herald, the Australian company that provides mass catering for US troops and […]
WesternZagros Resources has announced a strategic investment agreement with the Abu Dhabi National Energy Company PJSC ("TAQA"). The company's shares have risen 23% since Friday's close. Under the Agreement, TAQA will purchase, through a private placement, 74 million common shares in the Company at C$0.63 per share for gross proceeds of C$46,620,000. When this private […]
