Halliburton Wins ExxonMobil Contract for West Qurna I
Halliburton has been awarded a contract by ExxonMobil Iraq Limited (EMIL) to provide drilling services for 15 wells in the West Qurna (Phase I) oil field located in Southern Iraq. Halliburton will provide a complete range of well construction services utilizing three drilling rigs to safely deliver the wells. Joe Rainey, president of Halliburton's Eastern […]
Taxation of Foreign Suppliers in Iraq
By Anthony V Raftopol. This article was originally edited by, and first published on, www.internationallawoffice.com - the Official Online Media Partner to the International Bar Association, and International Online Media Partner to the Association of Corporate Counsel, and European Online Media Partner to the European Company Lawyers Association. Register for a free subscription at www.internationallawoffice.com/subscribe.cfm […]
$42m Additional for Services in Baghdad
The Mayoralty of Baghdad has said that it will provide 50 billion dinars [42 million Iraqi dinars] as an additional allocation to improve services in the capital. "The extra allocations will be used to improve services, including drinking water, sewerage, roads and agriculture," the mayoralty said in a statement quoting Engineer Naeem al-Kaabi, responsible for […]
Iraq to Merge Industrial and Trade Ministries
The economic commission of the Iraqi parliament has proposed merging the Ministries of Trade and Industry to support the Iraqi economy through improving the local production and enhancing Iraq's abilities. Ahmed al-Alwani, Chairman of the Committee told AKnews that the integration of these ministries is done in all international economically and commercially developed countries. In […]
Gulf Keystone Announces Annual Results
Gulf Keystone Petroleum (AIM: GKP), the oil and gas exploration and production company operating in the Kurdistan Region of Iraq, has announced its results for the year ended 31 December 2010. HIGHLIGHTS Financial Summary · Loss after tax $26.0 million (2009: $96.3 million) · Loss per share 4.17 cents (2009: 22.80 cents) · Cash, cash equivalents […]
More Iraqi Red Tape for Foreign Workers
The Ministry of Labor and Social Affairs has said it will require foreign companies operating in Iraq to ensure that local Iraqis make up at least 50% of their work force, in a bid to reduce unemployment in the country. Official figures indicate that Iraq has more than 25% unemployment with unofficial statistics indicating up […]
Egyptian Steel Mill for Diyala
Diyala Province Administration has approved an offer from an Egyptian company to build a new steel and stainless steel mill in the province. The local administration informed the Egyptian company to send a delegation to the province in order to study the details of the project. (Source: AlSumaria TV)
Sadr City Reconstruction to Employ 100,000
A major project for the reconstruction and rehabilitation of west Baghdad’s al-Sadr City will employ between 75,000 and 100,000 people during its implementation period, and another 50,000, Baghdad’s Mayor, Sabir al-Issawi said on Wednesday. According to the report from Aswat al-Iraq news agency, Issawi stressed that the project would comprise the construction of several multi-storey […]
Dohuk Residents Compensated for Airport
The media and relation officer for Dohuk Municipality said 771 families in the province will be paid for giving up their lands for Dohuk International Airport. Ismael Mustafa told AKnews the families in Semele district, who have been living in the area for the past 15 years, each will be paid 22 million Iraqi Dinars […]
Largest Rubbish Processing Plant in Middle-East Opened in Baghdad
The biggest rubbish processing plant in the Middle East was opened on Wednesday in Baghdad by a Turkish company, according to the Municipality of Baghdad. Deputy Baghdad Mayor Naeem al-Kaabi on Wednesday opened the al-Sadr waste processing plant in al-Habibiya region, making it the largest in the Middle East. It was designed by a Turkish […]
ShaMaran Petroleum Final Results
Shares in ShaMaran Petroleum rose slightly on Friday following the release of the company's final resutls for the year ended December 31st, 2010. The Company reported a net loss of $1.0 million (2009: net income of $2.9 million). Cash balance was $58.7 million as at December 31, 2010 (2009: $63.6 million). Please click here to […]
Groundstar Resources Drilling Update on Qara Dagh
Groundstar Resources has announced the following update on the drilling progress of the Qara Dagh - 1 exploration well in Kurdistan, Iraq. Since the last update on January 14, 2011, the well has drilled to 3,558 meters measured depth ("MD"). Over the past several days, a 7 inch liner has been set and cemented at […]