American, Japanese and Chinese companies have submitted bids to develop the al-Qatiaa oil field west of the southern Iraqi city of Nassiriya, according to a report from Bloomberg. The Oil Ministry is studying the offers from the three companies, Hussein Aziz, head of the municipality of al-Shatra in Nassiriya province, told reporters. He did not […]
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ExxonMobil Hits Target at West Qurna
As predicted, ExxonMobil and its Iraqi partners have reached "a major milestone" for oil production at the West Qurna oil field in southern Iraq, according to a report from UPI. ExxonMobil announced field production at West Qurna-1 rose from 244,000 barrels of oil per day to 285,000 bpd under the terms of its technical services […]
Iraq Negotiating $500m New Pipelines
Iraq's state-run South Oil Company is holding talks with international oil companies to build three pipelines worth up to $500 million [600 billion Iraqi dinars], according to a report from Dow Jones Newswires. SOC's director-general said on Monday that the intention was to link key oil fields to the export system in southern Iraq. "We […]
Iraq Receives Rice and Wheat from US Suppliers
Iraq received 52,500 metric tons of wheat and 41,109 tons of rice from U.S. suppliers, Hassan Ismail Ibrahim, director general of the Grain Board of Iraq, said. Two ships delivered the wheat and rice at the southern port of Umm Qasr, Ibrahim said in an e-mailed statement. The board last month signed 12 contracts to […]
Baghdad to Sign $15 Billion Housing Contract
Bloomberg reports that Iraq will sign a contract with Arab investors next month for a $15 billion [18 trillion Iraqi dinars] housing project . One investor from the United Arab Emirates and another group of companies from the U.A.E. and Kuwait are the finalists in the bidding process, Saber al-Issawi, the governor of Baghdad, said […]
Kurdistan Building 11 Dams, Plans 28 More
In a move that could increase tensions over water supplies, the Kurdistan region's minister for agriculture has announced that the Region is building 11 dams and plan dozens more. "There are 11 dams now under construction," Jameel Sulaiman told AFP. "We have studies and designs to build 28 more," he added. He said that the […]
Tags: Kurdistan News, Water
Kentz Positions Itself for Further Growth in Iraq
Kentz Corporation Limited, the holding company of the Kentz engineering and construction group, has positioned itself for further project opportunities in Iraq. In its annual report, issued this morning, the company said: "One area, where we see significant outlook for both capex and opex contracts is in Iraq. During the period Kentz took a 49% […]
Sterling Energy Annual Results
Sterling Energy, the upstream oil and gas company listed with operations in Iraqi Kurdistan, has announced its annual results for 2010. 2010 SUMMARY Sangaw North-1 exploration well testing the potential of the Sangaw North block. Received $15.6 million of net cash flow from Chinguetti field operations during 2010 (2009: $13.3 million). Cash resources as at […]
Relations Improving Between Kurdistan and Turkey
According to a report from Niqash, Massoud Barzani, the Kurdistan Region Government President, was invited recently to Turkey for talks on increasing economic integration between the two states. With trade between the Iraqi Kurdistan Region and Turkey reaching $9 billion, relations between Turkey and the Region have improved significantly. Turkey is working hard in the […]
Eni Interested in Investing in Nassiriyah Oilfield
Italy’s energy giant Eni is still interested in investing in the Nassiriya oilfield, Italy's ambassador to Iraq has said. Ambassador Gerardo Caranti was visiting Iraq to evaluate the progress of several projects and to study future suggestions. "We have several projects in Iraq at a cost of more than $2 billion," he told Aswat al-Iraq […]
Bulgarian Companies Check Out Wassit
The chairman of the Wassit Investment Commission said that a number of Bulgarian companies visited the governorate on Thursday to discuss investment opportunities. Sadeq Howeidi told Aswat al-Iraq news agency on Friday that the delegation discussed agriculture and industrial sectors, and signed a memorandum of understanding with the province relating to the medial sector. They […]
Agriculture Business Best Handled by Private Sector
By Ronald P Verdonk, Agricultural Counselor at the U.S. Embassy in Baghdad. At this point in late March/early April, Iraq would benefit from additional moisture in order for its winter wheat to fill out and further develop. Already, given the regional drop in precipitation through the growing season compared to a year ago, irrigation supplies […]
Tags: Ronald P Verdonk