Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Gulf Keystone Petroleum (GKP) this morning announced its results for the year ended 31st December 2011. Shaikan (75% working interest; Operator) 420% (P90) / 181% (P10) increase in gross oil-in-place numbers for the Shaikan discovery with a range of 8.0 billion (P90) to 13.4 billion (P10) barrels, following independent evaluation by Dynamic Global Advisors ("DGA") […]
Gulf Keystone (GKP) announced on Friday that the Sheikh Adi-2 exploration well spudded on the Sheikh Adi block in the Kurdistan Region of Iraq. The Sheikh Adi block is located immediately to the west of the Company's Shaikan block, which is a major discovery. Sheikh Adi-2, the second exploration well on the block, is being […]
Speech by KRG Prime Minister Nechirvan Barzani, at the STEAM Conference, Saad Palace Conference Centre, Erbil, 20th May 2012. Good morning and welcome to Erbil, the capital of the Kurdistan Region. I would like to welcome His Excellency Taner Yildiz, the Minister for Energy and Natural Resources, Mr Madhat Balkan, Chairman of the STEAM organization, […]
WesternZagros Resources announced on Wednesday its operating and financial results for the first quarter ended March 31, 2012, and additional key highlights and activities to date. Headlines $25.9 million of gross oil proceeds in Q1 2012, more than double the proceeds generated in Q4 2011. Proceeds generated from the sales of 450,000 barrels of test […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The prospects of energy and development in Iraq could witness and face serious changing circumstances, thus different policy options have to be in place to face different situations and possible scenarios. The […]
AKnews reports that Iraq is ready to supply crude oil to Brazil following the increase in oil production in recent months. Deputy Prime Minister for Energy, Hussein al-Shahristani, met with the a Brazilian delegation to discuss ways to improve political and economic relations between the two countries, especially in the energy sector. The Brazillian side […]
Iraq has warned Turkey against following through with a deal to build new pipelines carrying oil and gas from Iraqi Kurdistan, reports International Business Times. Turkey signed the pipeline deal with the Kurdistan Regional Government on Sunday, bypassing the central government in Baghdad. The BBC quotes Ali al-Moussawi, an adviser to Iraq's president, as saying, […]
Prime Minister Nechirvan Barzani at a major energy conference in Erbil yesterday said that Kurdistan’s relations with Turkey in the energy sector have entered a new phase. He expressed his optimism that after his recent visit to Turkey, more political will and understanding will lead to stronger economic relations. In his speech at the energy […]
Dubai contractor Drake & Scull is reported to be close to winning a $300 million contract in Iraq. Chief executive Khaldoun Tabari said the contract will be the construction of an oil and gas pipeline in Basra, reports Reuters. “We are very close to finalizing the deal,” he said. Drake specializes in mechanical, electrical and […]
Danish company Phoenix International has signed an $86m (100 billion IQD) contract with Basra Investment Commission for the production of oil pipelines. AKnews reports that Phoenix was granted the project licence for a 250-acre area in the town of Umm Qasr, in southern Iraq. The licence is for 35 years, which is subject to renewal. […]
Working-at-height specialist Simian Risk has won a contract to provide on-site training for Shell and the South Oil Company in Iraq. The UK-based consultancy firm, which launched in 2005, will provide bespoke scaffolding and work at height training and supervision at a new oil field site in Southern Iraq. Simian Risk will be working closely […]
Iraq is buying unmanned drones from the United States to help protect its southern oil platforms, U.S. and Iraqi officials said on Monday. An official from the Office of Security Cooperation in Iraq, which is part of the U.S. embassy, declined to give the model or number of drones that are part of the contract, […]
