The Iraqi unit of Kuwait telecoms firm Zain (ZAIN.KW) will start operating in Iraqi Kurdistan in January and expects to boost its subscriber base by up to two million in 2011, its chief executive said on Sunday, in an interview with Reuters. Emad Makiya, the new CEO of Zain Iraq, said Zain group, the Gulf […]
The Basra Sheraton hotel, which has been undergoing renovation for the past six months, will be opened in the middle of September. “The refurbishment project has been executed by a local firm at a total cost of $55 million [66 billion Iraqi dinars],” a local media source told Aswat al-Iraq news agency. He noted that […]
Around 150 electricity transformers have arrived on Saturday in Maysan [Missan] as part of an Iraqi government’s grant to the province. “The grant totals at $100 million [120 billion Iraqi dinars],” a local media source told Aswat al-Iraq news agency. He explained that the new transformers will be installed within the coming days. “The new […]
The technical assistant of head of Dhi Qar provincial council, Abdul Hussein Hajar, revealed that the Defense Ministry approved the allocation of part of Al Imam Ali air base to build a civil airport, subject to the approval of the Transport Ministry. The airport construction requires further legal and technical investigations in order to be […]
Further to our report last week Halliburton has confirmed that it has been awarded a letter of intent by Shell Iraq Petroleum Development B.V. for the development of the Majnoon field in Southern Iraq. Dow Jones suggests the contract for the 15 wells could be worth $150m. The giant Majnoon field is one of the […]
Minister of Natural Resources in the Kurdistan Regional Government, Ashti Hawrami, announced on Thursday that his ministry seeks to increase the daily oil production in the region to 3-4 million barrels in the next four years, noting that revenues will increase during this period to $25 billion [30 trillion Iraqi dinars]. “The region has 45 […]
Xe Services, the private security company formerly known as Blackwater Worldwide, has reached an agreement with the State Department for the company to pay $42 million in fines for hundreds of violations of United States export control regulations, according to a report in the New York Times. But by paying fines rather than facing criminal […]
More details are coming to light regarding Petrofac's new contract in Iraq, about which we reported last week. Dow Jones reports that the two crude-oil processing plants will be at Iraq's super giant Majnoon oil field, which is run by Iraq's state-run South Oil Co., Royal Dutch Shell PLC (RDSA) and Malaysia's state-run Petronas, and […]
A group of Italian firms will provide advisory services to the project of the al-Faw Big Port [Grand Faw] in Basra province, southern Iraq, according to a contract with the Iraqi Transportation Ministry. The ministry reported the event in a statement on Sunday as received by Aswat al-Iraq news agency, explaining that the project will […]
An Iraqi oil industry veteran, Dr Thamir Al Uqaili, says there is a general belief that the production plateau targets (PPTs) of the international oil companies who have won contracts in Iraq are too ambitious and that export will face a marketing problem. The exploration of Iraq’s rich oil and gas fields will be under […]
Turkish bank Vakifbank will open a branch in the northern Iraq Kurdish city of Erbil by the end of this year, according to Turkish newspaper Hurriyet Daily on Friday. “We have submitted an application to the central Iraqi government to open a new branch of the bank in Erbil,” Suleyman Kalkan, Director General of the […]
We launch our new Jobs in Iraq page today on the IBN web site in response to reader demand. This is a free reciprocal service for Recruitment Agencies and Employers with jobs on offer in Iraq. For readers it provides a welcome source of employment options in a country crying out for skilled labour and […]
