WesternZagros Resources Ltd. (TSX VENTURE:WZR) has announced that it has successfully concluded the first cased hole test of the Lower Oligocene formation in the Kurdamir-1 exploration well. The tested zone was between 2,365 metres and 2,415 metres. The test achieved a maximum flow rate, after acidization, of 18.3 million cubic feet per day of gas […]
The USAID-Tijara “Putting the Poor First” microfinance symposium, a program supported by the U.S. Government, will be held November 28-30 in Erbil. The Inclusive Financial Services Stakeholders’ Conference will bring together leaders from the 12 microfinance institutions (MFIs) that provide financial services throughout Iraq. The forum will attract Iraqi policy makers, donors, banks, small business […]
The Syrian-Iraqi Business Council was launched on Saturday with the aim of supporting and enhancing the economic relations and increasing the volume of trade and investment between the two countries. SANA also reports that the Council also aims to introduce businessmen and investors to the economic and investment opportunities available in Syria and Iraq, in […]
The Anbar Investment Commission said on Tuesday said that it plans to provide internet services to its citizens at affordable prices. Arkan Khalaf al-Tarmouz, the chairman of the committee, told AKnews that the investment project will provide a high-speed internet service at a cost of $70 per month [82,000 Iraqi dinars], eventually falling to 10,000 […]
Leading emerging markets insurance provider launches dedicated travel insurance website for Iraq Intrepid adventurers and culture vultures can now add Iraq to list of ‘must visit’ destinations Easy on-line access to tourist insurance [Picture: Ishtar Gate, Babylon, built circa 575 B.C.] AAIB Insurance Brokers, the leading international insurance broker for Iraq, has launched the first […]
Iraq Business News has received information late on Sunday that between 30 and 34 politicians have defected from Iyad Allawi's Iraqiya bloc, and will support Nouri al-Maliki's bid to form the next Iraqi government. Although these rumours are still unconfirmed, they are from a source trusted by Iraq Business News. The details are understood to […]
Bijeel-1 Discovery Well Update Gulf Keystone notes the announcement made today by MOL Hungarian Oil & Gas Plc regarding the successful end of testing of the Bijeel-1 discovery well, in which Gulf Keystone holds a 20% Working Interest. Highlights: The cased hole test, performed at a depth of 3,804 - 3,967 meters in the Jurassic […]
MOL Hungarian Oil and Gas Plc. has informed the markets that it has finished the testing of the first well, Bijell-1 in Akri-Bijeel Block in the Kurdistan Region of Iraq. The cased hole test performed in the depth of 3,804 – 3,967 m from Jurassic formations produced 2,700 bbl/d 12-13 °API oil through 40/64” choke. […]
MEED reports that prospects look good for the only oil services companies eligible to bid for work on Iraq’s oil fields. At the Adipec oil and gas conference, which took place between 1-4 November in Abu Dhabi, the stands belonging to the ‘big four’ US oilfield services companies -- Schlumberger, Baker Hughes, Halliburton and Weatherford […]
U.S. engineering firm World Solutions International (WSI) has unveiled a $220 million [257 billion Iraqi dinars] contract to build 2,500 housing units in Iraq, which is battling a housing shortage and in desperate need of investment. The engineering and construction company, based in Maryland in the United States, said on Thursday the units would include […]
Murphy Oil Corporation (NYSE: MUR) announced on Thursday that its wholly-owned subsidiary, Murphy Central Dohuk Oil Co., Ltd., has finalized an agreement with the Kurdistan Regional Government-Iraq (KRG) to acquire an interest in the Central Dohuk block. Murphy will operate and hold a 50% interest in the block. The Central Dohuk block covers approximately 619 […]
The International Energy Agency (IEA) has reportedly poured cold water on Iraq's plans to quadruple oil production to 12 million barrels a day by 2017, saying it could take 20 years just to reach half the target total. But the agency predicted in a draft of its annual World Energy Outlook that Iraq will succeed […]
