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PRweek reports that the Iraqi unit of Kuwaiti telecoms company Zain has hired PR agency support in advance of its listing on the Iraq Stock Exchange.

The firm has been planning an initial public offering (IPO) in Iraq since the summer and has asked London-based M:Communications to support communications relating to the listing process.

M: will provide PR and investor relations advisory services in Iraq itself.

The Zain listing is one of three major telecoms floats in Iraq planned for 2012. However, the Zain account is understood to be the only one of the three that has specified on-the-ground support in Baghdad.

It is thought the need for representation in Iraq proved problematic for a number of agencies that ultimately declined to pitch for the brief.

Nicholas Lunt, MD of M:’s Gulf business, added that the company would also be working with the management of Zain Saudi Arabia.

The news comes days after it was confirmed that FTI Consulting was working for Iraqi telecoms firm Asiacell ahead of its planned flotation later in the year. The firm, partly owned by Qatar Telecommunications, plans to sell a 25 per cent stake, potentially valuing the firm at more than $4bn.

Korek, a mobile group in which France Telecom and Kuwaiti logistics group Agility have a stake, is also planning a 2012 IPO. Korek is not thought to have selected a comms consultancy at this stage.

(Source: PRweek)

International learning and skills specialist Atlas has expanded the global footprint of facilities capable of delivering the groundbreaking new global training initiative IMIST for the oil and gas industry with the approval of the first centre in Iraq.

The accreditation of the Al Delma facility in Basra City demonstrates Iraq’s commitment to developing its energy industry and creating a workforce trained to the globally recognised basic safety standard, IMIST online.

It brings the total number of invigilation centre’s approved to deliver International Minimum Industry Safety Training (IMIST) around the world to 16, with facilities spanning Australia, Thailand, Singapore and the Philippines as well as the United Arab Emirates, Qatar, Nigeria and Russia among others.

The Al Delma centre will be capable of delivering the programme to up to 250 people every day.

Bilal Mahmood, CEO of Al Delma said:

“Long-term underinvestment in the development of our oil and gas personnel has meant considerable training is needed if we are to accomplish the goal of a safe and skilled workforce for the future.

“As one of the biggest training centres in Iraq we have built our reputation on being quick, smart and reliable and we are delighted to be the first to gain approval to deliver this new international training and be a model to others in the country.”

Developed by global oil and gas training standards body OPITO International, IMIST brings for the first time a standardised level of basic safety training to an estimated 1.5million oil and gas workers worldwide. The training assesses basic safety knowledge in nine subject areas including risk assessment, asset integrity, the use of hazardous substances, working at height and mechanical lifting among other subjects.

IMIST online, which was launched in the Middle East in July 2011, is delivered in partnership with Atlas via approved invigilation centres only.

By gaining Atlas approval to deliver the course, workers using the Al Delma centre will have their IMIST training accepted by employers all over the world. It will also reduce the burden of training costs for companies with both new entrants and experienced workers able to undergo a full range of mandatory and voluntary health and safety courses under one roof.

Atlas chief executive John Rowley said:

“This is a significant step forward for the oil and gas workforce in Iraq in terms of creating a safe, sustainable and profitable oil and gas industry for the country.

“It is also a major milestone in the adoption of a common industry standard for basic safety and competency in oil and gas around the world. The support which has been shown for this initiative is evident in the rapidly increasing footprint of centres which now spans across all four corners of the globe and is testament to the industry’s desire to improve safety at all levels.”

IMIST is being rolled out across 30 countries worldwide throughout Asia, Africa and the North America over the next two years. It will be delivered via e-learning and tailored to meet each region’s specific workforce, language and geographic needs.

Diabetics in Kuwait, Iraq and Palestine can now use their mobile phones to receive personalized alerts and information on exercise and diet, thanks to a new mHealth service being offered by Qtel Group companies there. Qtel Group will soon be offering this service in other countries where it is present.

Representatives from the Qtel Group and from some of the world's most innovative companies recently met in Qatar to discuss such innovations to mobile healthcare as well as how mobile phone technology can be used to support key healthcare goals across the region.

Collaborating with the global mobile association, the GSMA, the Qtel Group is organising a series of workshops on the subject of "mHealth", as part of a wider series of international events held with the mHealth Alliance, a campaign to champion the use of mobile technologies to improve health throughout the world. Mobile health, or "mHealth," is a term used for the practice of medicine using wireless devices, such as mobile phones, PDAs and remote monitoring devices, to improve patient care.

Global studies have shown that involving mobile devices in the practice of healthcare can have an immediate and significant impact. In remote locations and for rural communities, it can provide a vital link to physicians and healthcare advisors. In major cities, it can deliver incredible savings. US operator Verizon estimates, according to reports, that mobile broadband can improve health care productivity in the US to the tune of $6.9bn, which could increase nearly eight-fold by 2016.

Hosted at the W Doha hotel, representatives from across Qtel's Group of companies gathered together to gain a greater understanding on the dynamics of the health industry and how operators can make a difference to both patients and societies worldwide.

ExxonMobil's Chief Executive, Rex Tillerson (pictured), refused on Tuesday to answer questions about the company's deal with the Kurdish Regional Government (KRG).

When asked at a World Petroleum Congress in Qatar if he thought the contracts would hold up under Iraqi law, Tillerson said,  "I'm not in a position to comment on that".

At a press conference after the panel, Tillerson was again asked about the ramifications of the Kurdish contracts, and again declined to answer.

Last month, the U.S. State Department said it warned Exxon that any deals it signs with the Kurdish government may be annulled by Baghdad.

(Source: CNN)

Bloomberg's Eduard Gismatullin interviewed Peter Voser, chief executive officer of Royal Dutch Shell Plc, at the World Petroleum Congress in Doha, Qatar, on Tuesday.

His comments on operations in Iraq start about 9 minutes into the interview.

(Source: Bloomberg)

His comments on operations in Iraq start about 9 minutes into the interview.

Reuters reports that Qatar-based Gulf Bridge International (GBI) is completing the final stages of a submarine cable network that will give Iraq fast, reliable connections to other parts of the world for the first time.

The network, expected to be fully operational by the end of the year, consists of a 13,000 km (8,078 miles) undersea cable system that will link all six Gulf Cooperation Council (GCC) countries as well as Iran and Iraq, with onward connections to Sicily and India.

"Nations in the region have seen tremendous growth in the demand for broadband, roughly doubling each year. The demand is very clear. Increased speed and reliability are essential, and will be a catalyst for the development of other sectors of their economies (besides oil and gas)," GBI Chief Executive Officer Ahmed Mekky (pictured) told Reuters in a telephone interview.

"The region needs increased connectivity, as the existing infrastructure isn't enough to meet the demand."

The project , launched in 2008, will be the first cable network to land in Iraq, a country where still only under 3 percent of the population is connected to the Internet.

The initiative was partly motivated by the multiple cable outages in 2008, which cut off tens of millions of users in the Middle East and India when submarine cables were damaged.

"That supported our case, and increased interest in the project," Mekky said.

The company has invested $500 million in the project so far and is considering an expansion eastward into Singapore, likely in the second or third quarter of 2012, Mekky said, adding that he viewed Iran as another highly promising market.

"Iran is just as hungry for telecom services as any other market in the Middle East. It has a very young population which is growing. Internet use and mobile connectivity are an essential part of life, and we are happy to be able to provide it to them."

The firm's shareholders include regional sovereign wealth funds such as Qatar Investment Authority (QIA), Kuwait Investment Authority (KIA), as well as Qatar Foundation.

Its regional partners include Qatar Telecom (Qtel), Vodafone Qatar, Bahrain Telecommunications (Batelco) , Oman Telecommunications Co (Omantel), Dubai's du and Iran's ITC, Mekky said.

The company is also considering an initial public offering in upcoming years, he said.

"We are considering that, maybe in a couple of years," he said.

(Source: Reuters, Gulf Bridge International)

Reuters reports that the United Arab Shipping Company (UASC), which is jointly owned by a group of Gulf Arab states and Iraq, has picked banks for investor meetings in advance of a possible bond issue.

Deutsche Bank, Mitsubishi UFJ and UBS will arrange meetings for the company.

Roadshows will begin in Singapore on Thursday, and continue in Hong Kong on Friday, Abu Dhabi and Dubai on Nov. 28 and London on Nov. 29, before concluding in Switzerland on Nov. 30.

A dollar-denominated bond from the company will be the first time it has issued public debt in any currency, a source at one of the lead arrangers told Reuters.

UASC is unrated and will not be seeking a credit rating ahead of any potential issue given its ownership structure -- it is owned by the governments of Saudi Arabia, Qatar, Kuwait, United Arab Emirates, Bahrain, as well as Iraq.

The firm signed a $302 million term loan facility in February to back the acquisition of three A13 vessels ordered from Samsung Heavy Industries.

(Source: Reuters)

Foreign investors’ appetite for Iraq’s stock market is rising before planned IPOs by the country’s three mobile telephone operators, but the fledgling market’s small size means it may struggle to cope with the listings, according to a report from Gulf News.

The Iraq Stock Exchange (ISX) is an outpost of private sector business in Iraq, which is still dominated by state-run firms. Market capitalisation of the bourse, which started operating in 2004, is about $4bn with average daily trading value only around $2.8mn.

Successful stock market listings of the three mobile phone firms, Asiacell, Korek and Zain Iraq—a requirement of their operating licences—would be seen as a triumph for Iraq’s effort to create a diversified economy and a sign that it was establishing a stable development path after years of conflict.

The listings could also trigger a fresh wave of foreign interest in the market, which currently is heavily weighted towards banks, accompanied by a range of industrial, insurance, hotel and agriculture firms.

ISX chief executive Taha A Abdulsalam has said he expects the initial public offers of shares to double the market’s capitalisation. But with fewer than half of the 85 listed stocks active daily, such a boost in value could destabilise the market.

“The IPOs, first of all, they should put it in the market gradually,” Iraq Communications Minister Mohammed Allawi told Reuters. “If you put all the shares, the price will collapse for sure.”

Taking the companies public will not be an easy task, however. The companies themselves have been reluctant to move quickly until the stock market is more developed and they can be sure of getting good prices for their shares.

Zain Iraq, a unit of Kuwait’s Zain, Asiacell, an affiliate of Qatar Telecom and Korek, part-owned by France Telecom SA and Kuwait’s Agility, all missed an initial August 31 deadline set by the CMC for their listings, which now look likely to go ahead sometime next year.

2nd BASRA OIL & GAS

25- 28 November 2011

Basra International Fair Ground, Al Maqal Port / Basra, IRAQ

19 SPONSORS, 470 PARTICIPANT COMPANIES… THE FOREMOST OIL & GAS EVENT IN IRAQ!

2nd Basra Oil & Gas has exceeded all expectations and has proven it is going to be a much bigger success compared to the first edition. 19 Sponsors and 470 participant companies will welcome the high number of visitors expected. We invite you to participate in this biggest industry event of Iraq, along with local and international companies, global oil & gas giants and state companies from both Iraq and abroad, such as Shell, BP, ExxonMobil, Eni, Petro China, General Electric, Samsung, Siemens, Tenaris, South Oil Company, South Gas Company, Turkish Petroleum, Honeywell, Cameron, FMC Technologies, Mitsubishi and many more.

Largest in Iraq!

The 2nd edition of Basra Oil & Gas, taking place from 25-28 November 2011, is set to be the largest industry event to date in Iraq. It has already exceeded the record of the first event which hosted 218 exhibiting companies in 2010.

High Profile Conference

The conference will be held concurrently with the exhibition, with the theme "IRAQ ON TRACK IN CONTRIBUTING TO FUTURE WORLD ENERGY SUPPLY." As well as international and local industry professionals, officials from state companies and ministries will be joining this important summit. Conference will enable the Explorationists, Geoscientists and Engineers from the Oil and Gas Industry, Service and Manufacturing Companies, Finance, Universities and R & D institutions, to share their expertise, exchange ideas and experiences, update their knowledge and skills and discuss the latest progress and challenges facing the Petroleum Industry as well as, of course, networking and relational development.

Confirmed speakers briefing the conference delegates at the 2nd Basra Oil & Gas will be from; Ministry of Oil , South Oil Company, Qatar Petroleum, Novomet, Chimec, Endress Hauser, Mena Associates & Amereller Legal Consultants, Control Risks, Olive Group and Al Iraq Company for Safety and Fire Fighting Services.

Keynote speakers will be the senior level managers from Oilserv, Shell, Exxon Mobil, Turkish Petroleum Corporation and ENI.

To participate in the foremost oil & gas event of Iraq, kindly send all your enquiries to [email protected] .

Iran and Iraq will be major target markets for Dubai’s newest engineering consultancy, Whitby & Mohajer, says the company’s MEP director.

While the usual target markets of Saudi Arabia, Qatar and the UAE will still be areas of interest, Louise Collins told MEP Middle East said that the intense competition for MEP contracts in those markets was a deterrent.

“A lot of the bigger companies are wary of Iraq right now, but it’s got a lot of money and is looking to rebuild. The Americans are already in there, it seems to be the British and European companies that are hanging back, (being) a little bit more insecure. But there’s certainly a lot of money out there,” she said.

Whitby and Mohajer are currently working on two major projects in Iraq, one a six hundred bed hospital and the other the Council of Ministers building.

“There’s a lot of iconic stuff in Iraq, but we have to be careful how many projects we take in that region. In Iran, it’s the same thing. But you’ve got to spread your risk when you’re going into those kinds of places.”

“Kuwait and Saudi Arabia are flying along and we’re getting a lot of fit outs here in Dubai, so that’ll sustain smaller companies (like us) for a while. There’s going to be a lot of fighting for big projects in Abu Dhabi by the bigger companies, but that’s not going to pick up for a while,” Collins said.

(Source: Construction Week Online)