Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Korea's STX Heavy Industries has announced another major contract win in Iraq. The $99.5-million deal will see the company build a new gas treatment facility at the Gharraf [Garraf] oilfield. Malaysia’s state oil firm Petronas holds 45 percent of the Gharraf project, Japan Petroleum Exploration (Japex) 30 percent, and Iraq’s North Oil Company (NOC) 25 percent. […]
Abu Dhabi's Bristol Vehicle Manufacturing Division (Bristol VMD) has announced it has rolled out seven new fire-fighting and emergency response vehicles as part of a multimillion-dollar contract with Russia's Gazprom Neft. ConstructionWeekOnline reports that the new fleet of vehicles -- five oilfield fire-fighting vehicles, one rescuer and pollution-control vehicle, and a water and foam support trailer […]
Around €75 million of development support will be made available to Iraq during the period 2014 – 2020, has today announced European Commissioner for Development, Andris Piebalgs (pictured), during a meeting with the Iraqi delegation led by Foreign Minister Hoshyar Zebari. The three proposed main areas of cooperation are: Rule of Law and Human Rights, […]
Iraq's National Investment Commission (NIC) decided to reduce the down payment required to buy housing units at the new Bismayah development. NIC Chairman Dr. Sami al-Araji said that following requests from the public, the down payment would be reduced from 25 percent to 10 percent. He added that work at Bismaya, the biggest housing project […]
The deputy head of the Iraqi businessmen’s association, Tariq Saleh, has said that around 600 major projects worth $189 billion are frozen in Iraq due to the government’s failure to enforce a funds management law. He told Al Mada: "[The projects] have simply been stalled or suspended because of the government’s failure to enforce laws […]
By John Lee. Oilfield services company Baker Hughes Incorporated has warned the markets that it will take a hit of $80 million as a result of the disruption to its operations in Basra. The company said in a statement: "Following the disruption to its business in Iraq during the fourth quarter, Baker Hughes resumed operations […]
By John Lee. Jordan and Iraq have agreed on executing an oil pipeline to export Iraqi oil through Jordan. KUNA reports that the agreement came after a high-ranking joint meeting attended by the energy ministers of the two countries. The pipeline will pump one million bpd of Iraqi crude to the Red Sea port of […]
By John Lee. National Engineering Services of Pakistan (NESPAK) has set up an office in Iraq, reports The News. Managing Director Amjad A Khan said that the company has set up its office in Baghdad to deal with the East Gharraf [Gharaf] project awarded by the Ministry of Water Resources. The project marks the restart of […]
By John Lee. A group of companies led by Hyundai Engineering & Construction has won a $6.04-billion contract to build the new 140,000-bpd Kerbala oil refinery. The Iraqi cabinet approved the deal between the Oil Ministry's State Company for Oil Projects (SCOP) and the consortium on Tuesday. Construction is to be completed within 54 months. […]
By Robert Tollast. Robert Tollast is a consultant at Noorbridge, a Helsinki based consultancy with staff in London and Nasiriyah, Iraq. He has written extensively on security, politics and economic issues in Iraq for various publications, and is currently researching a modern history of Iraq with support from The Middle East Forum. email: [email protected] twitter: […]
By John Lee. Korea's STX Heavy Industries has won a $449 million order to build a 550-kilometer gas pipeline in northwestern Iraq. The pipeline, scheduled for completion in June 2017, will take gas from the Akkas gas field in Anbar, which is operated by Korea's KOGAS. (Source: STX)
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Vacation Gridlock: Too Many Holidays Paralyse Karbala City Of all Iraqi cities, Karbala may well be the one with the most holidays. That’s because when there is a major […]
