Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Gulf Keystone has announced that it has successfully raised $200 million to fund its exploration programme in Iraqi Kurdistan. In line with the Company's forward strategy announced on 14 September 2011 and in order to increase the focus on the aggressive programme of exploration and appraisal of the Shaikan, Sheikh Adi and Ber Bahr blocks […]
Reuters reports that a fire has broken out at a state-run gas compression unit at Iraq's Rumaila oilfield on Tuesday, killing one person and hitting oil production. "We have stopped exporting gas that would have been exported into this compressor and this will have an impact on our production from Rumaila," BP spokesman David Nicholas […]
As part of the Kurdistan Regional Government’s ongoing transparency initiative, the Ministry of Natural Resources is putting all signed production sharing contracts (PSCs) for oil and gas in the Kurdistan Region into the public domain. The move, announced today by Minister of Natural Resources Ashti Hawrami, means that the PSCs, their attachments and amendments are […]
According to a document obtained by Reuters from Iraq's oil ministry, Iraq's Zubair oilfield will reach its peak output target of 1.2 million barrels per day (bpd) by the start of 2017. The Zubair consortium plans to invest around $18 billion to upgrade the southern Iraqi field, spending $2.8 billion in 2011, $4.9 billion in […]
Petrofac, the international oil & gas facilities service provider, and China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of China National Petroleum Company (CNPC), have established a new strategic joint venture, China Petroleum Petrofac Engineering Services (CPPES). Based in Sharjah, UAE, the joint venture will provide project management and engineering services […]
Bloomberg reports that Iraq’s oil production rose to 2.81 million barrels a day, the highest level since the U.S.-led invasion in 2003. Output from oilfields in the Basra reached 2.113 million barrels a day, while daily production in Kirkuk stood at 697,000 barrels, the Oil Ministry said in a statement. (Source: Bloomberg)
Iraq has been devastated by severe conflict for several years. However, rebuilding Iraq will prove to be one of the biggest global investment opportunities for companies involved in the energy sector. According to a recent article in The National newspaper, Iraq sits on the third largest oil reserves in the world and pumps 2.75 million […]
Design , supply of Automatic FM-200 system for electrical , control buildings pump house & booster pumps protection for K3 pumping station at Hadith. The country of origin of the materials should be from Western Europe, USA, Canada & Japan. Tenders documents may be collected (by an authorized representative of the tenderer) at SCOP's headquarter […]
Aberdeen City Council has announced a new initiative to encourage North-east companies to explore business opportunities in Iraq. Upper Quartile, an Edinburgh-based economic development consultancy, will manage the programme, which will target the oil and gas sector, academic institutions and other contractors. Seminars will be held over the coming months to inform firms of the […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Minister Ali al-Dabbagh, Iraqi Government Spokesman, was interviewed by Padraig O'Hannelly for Iraq Business News at last week's Iraq Mining 2011 conference in London. The first part of the interview can be found here. In this second part of the interview, Dr al-Dabbagh discusses the Hydrocarbon Law, the valuation of the Iraqi dinar, foreign investment […]
The contract for the giant Shell/Mitsubishi project to capture gas from Iraq's southern oilfields has taken a step closer to completion. Government Spokesman Dr Ali al-Dabbagh told Iraq Business News that Shell has agreed to the changes required by the oil ministry, and that the contract is now awaiting approval by Iraq's Cabinet. The project […]
