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Kurdistan’s Oil & Gas Leaders to Hold Official Annual Meeting in London

The Ministry of Natural Resources of the Kurdistan Regional Government, Iraq is to hold the sixth official Kurdistan-Iraq Oil & Gas Conference in London, on 5-7 December 2016 to drive forward the oil and gas development in the Region of Kurdistan.

Energy events experts CWC Group has hosted and grown the event over the years to become the gateway to the oil and gas business for the Kurdistan Region offering a unique platform for the global oil and gas industry.

The event is renowned for gathering Kurdistan’s Government representatives with global oil and gas leaders to discuss current opportunities, network and build partnerships to drive the industry forward.

Sponsored by an range of established companies: Star Light, ExxonMobil, Chevron, DNO, Gazprom, Qaiwan, KAR Group, Genel Energy, Gulf Keystone, Renwa Group, Petoil, Gardaworld, Iraqoil, Gas Liquids Engineering, Gas plus New Age, Hunt Oil Middle East, WesternZagros and SMB Group, the event will dedicate the two initial days to strategic panel discussions and a third day to the Security Seminar, focused on Protecting Critical Infrastructure in the region; a key aspect for any economic progress in Iraq.

Distinguished Speakers of the Conference Include:

• E Qubad Talabani, Deputy Prime Minister, Kurdistan Regional Government, Iraq
• E Dr Ashti Hawrami, Minister of Natural Resources, Kurdistan Regional Government, Iraq
• E Falah Mustafa Bakir, Head of the Department of Foreign Relations, Kurdistan Regional Government, Iraq
• Dr Amanj Raheem, Minister, Kurdistan Regional Government Cabinet Secretary & Chief Legal Advisor, Kurdistan Regional Government, Iraq
• Najmaldin Karim, Governor of Kirkuk Governorate, Iraq
• Saad Sadollah, Commercial & Business Development Advisor, Ministry of Natural Resources, Kurdistan Regional Government, Iraq
• Ian MacDonald, Vice President, Europe, Eurasia and Middle East Exploration and Production, Chevron
• Bijan Mossavar-Rahmani, Executive Chairman, DNO ASA
• Murat Ozgul, CEO, Genel Energy Plc
• Jón Ferrier, Chief Executive Officer, Gulf Keystone Petroleum Ltd

(View the full speaker list here)

Following the official opening keynote from the Deputy Prime Minister and the Minister of Natural Resources, the speakers will address important topics for the industry, dedicating a session to each of the following:

• Kurdistan’s Oil & Gas Operators: Transforming the Region into an Energy Hub
• Oil & Gas Infrastructure Development, the Catalyst for the Region’s Development
• Kurdistan’s Electricity Infrastructure; Innovation, Progress & Plans
• Kurdistan’s Gas : Potential & Opportunities
• Creating Value through Large Projects; Evaluating Kurdistan Oil & Gas Investment Strategies
• Integrated Telecommunications Services & Solutions for Kurdistan Energy Projects

 (View the full programme here)

(Source: CWC)

The International Finance Corporation (IFC), a member of the World Bank Group, has invested a total of $410 million (including $125 million in mobilization) in Iraq to support the development of the nation’s private sector, with a special emphasis on improving access to vital infrastructure and supporting the manufacturing sector.

In fiscal year 2016, IFC finalized a $375 million financing package for a leading private Iraqi power company to help provide electricity to millions of people across the country, particularly in the Kurdistan Region of Iraq, where a migrant crisis has strained power infrastructure.

Ziad Badr, IFC Principal Country Officer in Iraq, said:

“Iraq is a priority country for IFC in the region. The current security situation and sharp drop in oil prices highlights the need to foster a diversified economy and boost economic growth.

"With over 90 percent of government revenues generated from the oil sector, IFC’s support to the private sector is crucial for the growth of the non-oil economy and creation of jobs.”

Since FY11, IFC has invested $1.1 billion in long-term financing in Iraq (including $378 million mobilized from other investors and $8.3 million from MIGA). IFC’s portfolio currently stands at $441 million.

IFC investment and advisory projects focus on boosting trade, increasing South-South investments, improving infrastructure, and bolstering access to finance for micro, small and medium enterprises.

(Source: IFC)

Ministry of Health and Environment in coordination with the National Investment Commission (NIC) are announcing an investment opportunity to build disease testing labs in Baghdad (according to investment law No. 13 for the year 2006 as amended and the regulations issued in its accordance) according to the specifications shown below:

1. The investing company is required to rent buildings or apartments to be specified to establish the testing labs referred to above.
2. The labs are to be supervised by the Ministry of Health and Environment / department of technical affairs/ testing labs section.
3. These labs are to be supported by sending them patients from the public health institutions in case they do not have the necessary lab testing.
4. The procedures mentioned in the regulations No. (2) for the year 2006 ( of granting the license of practicing the private lab work for disease analysis) are to be applied in opening these labs in all specializations.
5. The labs are to consist of two floors or more :

Ground floor: a big hall of (85-100 m²) to be divided according to the number of sections and specializations with providing all medical and office services.

The first floor: consists of (2) pedagogic halls at least in order to conduct training courses in coordination with the section of graduated students and trainees.

The lab is to be an independent building and not annexed with any irrelative commercial utility.

6. The lab is to be equipped by the investing company with all modern and developed equipments (Automation) according to the need of the testing units intended to be activated with providing the quality control materials in coordination with the testing labs section in the Ministry of Health.
7. Providing the building with all office furniture, air conditioning systems, and furnishing the pedagogic halls in a way that match the work volume.
8. The investment company pledges to pay all building dues of electricity and water supply bills in case of submitting to renting and taxing system.
9. Training all private and public colleges’ graduates concerned with the testing labs work with organizing vocational training courses, against prepaid fees, through which trainees are to be theoretically and practically evaluated and appreciation certificates will be awarded to the passers by the testing labs section in the Ministry of Health.
10. The company pledges to train the workers of the lab to use the modern devices, place and period are to be specified later.

All interested companies and investors are invited to submit their applications to the Ministry of Health and Environment / Private Health sector section or to the National Investment Commission through the email address ([email protected] ) knowing that the closing date is 15.11.2016.

(Source: NIC)

The United Nations Human Settlements Programme (UN-Habitat) has inaugurated newly renovated residential units in Anbar University, located in Ramadi, Anbar Governorate.

With generous contribution from the Government of Japan, the renovation of the residential units was implemented under the project titled “Promoting Urban Recovery in Newly Liberated Areas in Iraq.”

As other public facilities and major infrastructure in the city, the premises of the university was one of the earliest largely devastated sites by ISIL.

Classrooms and residential buildings of Anbar University were severely damaged. Upon request from the Anbar Governorate, UN-Habitat renovated 92 residential units in the university compound for female students, which can accommodate around 400 individuals, to be ready for the beginning of the new academic semester in October 2016.

The units are provided with water and sanitation facilities, electricity, and ceiling fans.

UN-Habitat promotes community-based reconstruction in crisis-affected areas. The current intervention to rehabilitate the residential units in Anbar University is complementary component under the agency’s Urban Recovery Programme.

Dr. Erfan Ali, UN-Habitat’s Country Representative, confirmed in the event that “The community-based approach under the Urban Recovery initiative will empower the community members socially and economically, enabling them to plan and manage their own activities for more peaceful and stable community”.

He added that the reactivation of the university’s role would contribute to accelerate IDPs return. He also emphasized on the importance of targeting female students to support their academic and research re-engagement, and to play an active role as agents of positive and constructive change.

(Source: UN)

CWC’s third Basra Oil, Gas and Infrastructure Conference will take place this year in Beirut, Lebanon on 24-25 of October 2016.

In a pre-conference interview with the Chairman of the Oil and Gas Committee of Basra Council, Mr Ali Fares outlined the most important issues that the Basra delegation will focus on during the conference, the challenges facing the province and ways to improve the circumstances.

Mr Fares also spoke about training and development:

“After our continuous efforts to find job opportunities for the people of the Basra Governorate, particularly the young people who live close to the oil fields, we were shocked by the conditions the oil companies impose on the young workers who lack the skills required. In addition to asking the local workforce for international certificates, this allows the companies to import foreign workforce… at the Council of the Governorate we worked on a legislation called Investment in Human Resources and Job Management number 302 to train and prepare the young people who are in search of work.

"We had the approval from the Ministry of Oil to allocate 30% of the Social Benefits to train the young people. The first step is already underway to train 120 young people, teaching them vocational jobs to enable them to work for the oil companies.”

Iraq’s Ministry of Oil obtained a $2.1 billion loan from Japan for the rehabilitation of the Basra Oil Refinery in a bid to increase production capacity. Highlighting the importance of the loan, Mr Fares, who is also a law specialist said that a number of strategic and important projects have been agreed to including the hydrogenation of gasoil with the capacity of 20,000 barrels per day (bpd) as well as a cracking unit using GCC – the largest of its kind among the refinery projects.

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. 

Every year, the number of pilgrims visiting religious sites in Iraq increases. After Iranians were not allowed to travel to Mecca to perform the hajj this year due to Iranian-Saudi disputes, Iranian Shiites headed in great numbers to Imam Husayn Shrine (pictured) in Karbala to celebrate the Day of Arafah on Sept. 10.

There were around 1 million visitors in September. As the holy month of Muharram, during which time Shiites visit Karbala, is approaches, the number of visitors will increase further.

The increase in visitors has sparked questions whether Iraq can find a way to improve the country's economy, despite the fact that it hasn’t imposed taxes or fines on religious tourists for 12 years. But indicators in August foreshadowed a gradual growth in tourism that focuses on religious and archaeological landmarks.

According to Maitham Laibi, an economist and academic at the University of Baghdad, the country's economic growth has not been steady in a way that could ensure effective measures to benefit from the increasing number of visitors.

Laibi told Al-Monitor, “Iraq has not been able to use religious sites to its advantage and integrate them in profitable touristic activities due to the managerial mentality that is characterized by lavish spending on these rituals from the state’s budget, instead of investing in encouraging more locals and international pilgrims to visit.”

He said, "During the era of oil prosperity and the large financial revenues, governmental cars were used during the visits and lump sums of money were spent on religious convoys, while no entrance fees to Iraq were collected.”

The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from August 28–September 10, 2016 on the first review of Iraq’s 36-month $5.3-billion Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016.

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:

“The Iraqi authorities and IMF staff started discussions on the first review of the SBA. These discussions will continue during the upcoming IMF and World Bank Annual Meetings from October 7–9, 2016 in Washington, DC.

“During the mission, the team met with the Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Allaq, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministries of finance, oil, planning, electricity, the CBI, and representatives from the Kurdistan Regional Government, Board of Supreme Audit, and pension commission.

"The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

(Source: IMF)

GE has signed a multiyear agreement in Iraq with Mass Energy Group Holding.

The $520-million contract includes operation and maintenance services as well as GE’s advanced digital industrial solutions for the 3-gigawatt gas-fired Basmaya [Bismaya] Power Plant, 40 kilometers east of Baghdad.

This contract represents a continuing effort between Mass Energy Group Holding, the Iraqi Ministry of Electricity (MOE) and GE to bring much-needed power to the people of Iraq.

Ahmad Ismail, Chairman of Mass Energy Group Holding, said:

“The Basmaya Power Plant is a milestone project that marks the first-of-its-kind independent power producer agreement between Mass Energy Group Holding and Iraq’s Ministry of Electricity.

“In addition to meeting the surging demand for power from the Iraqi people, the plant will support the country’s focus on building its infrastructure and strengthening local industries.

"The power plant will feed the national grid, benefiting all sections of the community. GE has been our long-term partner, and by operating the plant, GE is bringing its advanced technology solutions to help us to deliver the highest levels of efficiency, reliability and productivity.”

The multiyear service agreement builds on GE’s long-term relationship with Mass Energy Group Holding, which includes prior contracts to provide Basmaya with eight units of its advanced 9FA gas turbines and four units of its C7 steam turbines.

The project is being developed in two phases, with each phase delivering 1,500 megawatts (MW) of power, which together is enough power to meet the needs of over 600,000 households.

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.

Regaining Qayyarah a Major Step Towards Defeating Extremists

Since it was liberated by Iraqi forces last month, Qayyarah has come to be seen as the key to freeing surrounding areas from the grip of the extremist Islamic State group, known as IS.

For more than two years, the town in northern Iraqi province of Ninawa was home to the IS treasury. But today the organization’s black banners and bearded fighters are nowhere to be seen.

"The liberation of Qayyarah brought us closer to our bigger goal of liberating not just Mosul, but also the Ninawa province from the grip of IS group,” Iraqi Prime Minister Haider al-Abadi said on 25 August.

Mosul is the extremists’ last stronghold in the region, some 60 kilometres to the north.

"For us, Qayyarah is the key for entering Mosul, as it was the strongest defensive line for IS fighters in the southern part of the province,” Major General Saleh al-Jibouri, mayor of Qayyarah, told NIQASH. The city’s air field would be crucial to future operations, he said.

Perhaps even more importantly, the IS group has also lost a major source of income.

"Economically, Qayyarah was an inexhaustible treasure,” al-Jibouri said. “Around 100 tankers of crude oil are transported from its fields everyday, bringing an income of about US$1 million per month,"al-Jibouri said.

Local officials, politicians and security leaders in the Ninawa province have said they consider the liberation of Qayyarah exemplary because it preserved the lives of civilians. Losses are estimated at just five deaths and 10 wounded. What’s more, the operation was carried out without the participation of the Shiite popular factions accused of committing abuses against the local population. Both Sunnis and Kurds strongly oppose their participation in the upcoming Mosul operations.

WFP Distributes Food To Families In Northern Iraqi Town Besieged For Over Two Years

The United Nations World Food Programme (WFP) has distributed desperately needed food for more than 30,000 people in and around the northern Iraqi town of Qayyarah, 60 kilometres south of Mosul. The town was under siege and inaccessible for over two years.

Through its local partners Muslim Aid and Women Empowerment Organization, WFP distributed emergency food rations containing ready-to-eat foods such as dates, beans and canned foods to meet families’ immediate needs as well as monthly food rations containing rice, lentils, wheat flour, bulgur wheat, beans and vegetable oil in the past week.

These rations will provide enough food for more than 30,000 people for a full month. WFP also distributed food to almost 2,000 displaced people living in camps and with host families in areas surrounding Qayyarah.

“The people of Qayyarah had been living under siege for two years and are suffering extreme hunger with scarce access to food supplies. Reaching them with life-saving food assistance is a very positive step forward,” said Sally Haydock, WFP Iraq Country Director.

“Thanks to a generous contribution from the Government of Germany, WFP is able to provide more food assistance to families who are being displaced from the greater Mosul area.”

Last week, WFP and its humanitarian partners assessed the humanitarian situation in Qayyarah and found that all of the people remaining in the town are in urgent need of food and other forms of humanitarian assistance.

All of its shops were either destroyed or closed and food stocks were running dangerously low, with people surviving only on wheat from the recent harvest.

The town is in a dire state. Black smoke rises from oil fields surrounding the town set ablaze during fighting in recent weeks. Safe drinking water, electricity and medical services remain nearly impossible to access.

Over the last two years people from the Qayyarah area fled to camps in Erbil, Kirkuk and Salah al-Din, where they receive regular food assistance through WFP’s partners. More than 3 million Iraqis have been displaced by conflict in Iraq since mid-June 2014. In response, WFP has provided food assistance to more than 1 million vulnerable displaced Iraqis across all 18 governorates.

WFP is entirely voluntarily funded and relies on support from governments, companies and individuals to provide food assistance to internally displaced Iraqis. WFP is scaling up its food assistance in Iraq to support newly displaced families from the Mosul area, thanks to a contribution from Germany of US$27.9 million.

To continue to assist displaced families in Iraq until the end of the year, WFP urgently requires US$106 million.

(Source: WFP)