Key Industry Developments Discussed at Iraq Mega Projects 2011
Senior executives and industry experts gathered at the three day conference and seminar Iraq Mega Projects 2011 hosted by The CWC Group at the Ritz Carlton, Istanbul between the 18-20 October 2011. Focusing on the recent developments of Iraq’s oil and gas fields, water projects drilling activates, infrastructure growth and corporate social responsibility the event […]
Weekly Security Update for 26th October 2011
Levels of violence did not change in Iraq last week, but there was a drop in the number of casualties reported. The previous week had seen a number of bombings in the capital which left dozens dead but last week’s terrorist attacks were less devastating in terms of the number of casualties inflicted. Furthermore, Baghdad […]
Brand Iraq and the Arab Spring
After the burial of Colonel Gaddafi this week - the symbolic end of his 42 year rule, I asked myself: “What countries will emerge from the Arab Spring and succeed in increasing tourism revenue streams and securing foreign investment?” I wondered where Iraq’s place would be within the context of the re-shaping that’s occurring in […]
Genel Plans Takeover of DNO?
Former BP chief executive Tony Hayward (pictured), who heads the cash-rich Genel Energy group, said he would be interested in buying Norwegian oil company DNO and its Kurdish oil licences. Norwegian newspaper Finansavisen reported on Tuesday that the remarks come a week before DNO shareholders are to vote on a contested proposal to buy UAE-based […]
LUKoil Starts Drilling at West Qurna-2
Russia's RIA Novosti reports that the country's largest private oil firm, LUKoil, has started exploration drilling on the giant West Qurna-2 oilfield in Iraq. Company head Vagit Alekperov said on Tuesday, "we have launched drilling, well borers are already there". In 2009, a consortium comsisting of LUKoil and Norway's Statoil won a tender to develop […]
Iraq Earmarks $50bn for Airport Projects
According to The Saudi Gazette, the Iraqi government has earmarked an estimated $50 billion for airport development projects in Iraq over the next few years. Iraqi Airways is scheduled to add new 55 Boeing and Bombardier aircraft to its fleet soon. The emerging markets of China, Russia, India, the Middle East, and Africa are forecast […]
ShaMaran Announces $50m Private Placement
ShaMaran Petroleum reports that, subject to regulatory approval, it will carry out a non-brokered, private placement of up to an aggregate of 125 million common shares of the Company at a price of $0.40 per share for gross proceeds of up to Cdn $50 million. Shares issued pursuant to the private placement will be subject […]
Subsea Team Secures Crucial Pipelines
Subsea excavation specialists Marin Group recently played a key role in clearing unexploded ordnance from the route of three new pipelines crucial to Iraq's future oil exports, according to an article in Maritime Journal. Operating company Marin Subsea Ltd was contracted by UK based Maritime and Underwater Security Consultants (MUSC), which had been awarded overall […]
Unique System Wins $5.2m contract with Leighton in Iraq
Unique System FZE, a Unique Maritime Group company, has recently been awarded a $5.2m contract to supply a 12 MAN ABS Classed saturation system and 3 air diving systems for the Leighton Offshore diving project, based in the Middle East. Unique Maritime Group will provide their 12 MAN ABS Classed saturation system, complete with SPHL […]
Former Innospec Exec in Court on Corruption Charges
Dr David Turner appeared before Westminster Magistrates' Court in London, England, on Tuesday. He is charged with alleged offences of conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts for Innospec Ltd for the supply of its products. He is also charged with conspiring to defraud a competitor company […]
Kurdistan's President Meets Northern Ireland Minister
President Barzani today received Mrs Arlene Foster, Northern Ireland’s Minister for Enterprise, Trade and Investment to discuss opportunities for business and trade cooperation between the Kurdistan Region and Northern Ireland. Minister Foster who is heading a business delegation from Northern Ireland said she and her business delegation are very pleased with their visit to Erbil, […]
ShaMaran Tests Oil from Pulkhana-8
ShaMaran Petroleum has issued an operational update on the Pulkhana-8 re-entry well. The Pulkhana-8 Re-entry well (“PLK-8RE”) tested an average rate of 2,650 barrels of 31.6 degree API oil per day from the Upper Cretaceous Shiranish formation (high rates of up to 3,530 barrels of oil per day were recorded during the test). The well […]