Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Germany's Ambassador to Iraq, Karl George Christian, announced an investment conference in Basra to be held in mid-April, and said that German companies are keen to establish a presence in the southern Iraqi province in the fields of construction, oil and manufacturing. At the head of Basra provincial council, Jabbar Amin Jaber, told AKnews that […]
KBR announced on Monday that it received a $15.5 million award fee related to its LogCAP III work in Iraq for the six month period of performance beginning March 2010 and ending in August 2010. On March 21, 2011, KBR received its LogCAP III award fee determination letter confirming the award fee from the United […]
American, Japanese and Chinese companies have submitted bids to develop the al-Qatiaa oil field west of the southern Iraqi city of Nassiriya, according to a report from Bloomberg. The Oil Ministry is studying the offers from the three companies, Hussein Aziz, head of the municipality of al-Shatra in Nassiriya province, told reporters. He did not […]
As predicted, ExxonMobil and its Iraqi partners have reached "a major milestone" for oil production at the West Qurna oil field in southern Iraq, according to a report from UPI. ExxonMobil announced field production at West Qurna-1 rose from 244,000 barrels of oil per day to 285,000 bpd under the terms of its technical services […]
Iraq's state-run South Oil Company is holding talks with international oil companies to build three pipelines worth up to $500 million [600 billion Iraqi dinars], according to a report from Dow Jones Newswires. SOC's director-general said on Monday that the intention was to link key oil fields to the export system in southern Iraq. "We […]
Sterling Energy, the upstream oil and gas company listed with operations in Iraqi Kurdistan, has announced its annual results for 2010. 2010 SUMMARY Sangaw North-1 exploration well testing the potential of the Sangaw North block. Received $15.6 million of net cash flow from Chinguetti field operations during 2010 (2009: $13.3 million). Cash resources as at […]
Italy’s energy giant Eni is still interested in investing in the Nassiriya oilfield, Italy's ambassador to Iraq has said. Ambassador Gerardo Caranti was visiting Iraq to evaluate the progress of several projects and to study future suggestions. "We have several projects in Iraq at a cost of more than $2 billion," he told Aswat al-Iraq […]
The Iraqi oil minister said his office is planning to raise oil production volume to 6.5 million barrels per day (bpd) over the next four years. Abdul-Kareem Lueibi [Luaibi, Elaibi] told a press conference that the ministry expects to raise the volume to 2.75m bpd in 2011, 3.3m in 2012, 4.5m in 2013, and 6.5 […]
Iraq plans to sign power plant contracts valued at $6.25bn [7.3 trillion Iraqi dinars] next week with Caterpillar and other companies, according to Arabian Business. Caterpillar, Man SE of Germany and at least one South Korean company will build 50 new power stations, each capable of generating 100 megawatts, Electricity Minister Raad Shallal said on […]
Sterling Energy (AIM: SEY) has provided an update this morning for the Sterling-operated Sangaw North block in Kurdistan (53.33% working interest). Sangaw North #1 Well The side-tracked wellbore of Sangaw North #1 well has been drilled to a depth of 3,360 metres, into the top of the Jurassic formations and at a depth above where […]
Gulf Keystone has announced that the Bekhme-1 Exploration Well has spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq on Monday, 21st March 2011. Bekhme-1 is the second exploration well to be drilled on the Akri-Bijeel block, 20 km to the north-east from the Bijell‑1 discovery well (Operator's P50 estimate of 2.4 billion barrels […]
We've reported in the recent past on the difficulties faced by foreign businesses in getting visas to work in Iraq. This week Iraq Oil Report has found that the reason for the delays is a decision by the office of the Prime Minister, Nouri al-Maliki, that applications for visas don’t just go through the Interior […]
