Petrofac Awarded $240m Shell Contract in Iraq
Petrofac, the international oil & gas facilities service provider, has confirmed it has been awarded a contract in excess of US$240 million by Shell Iraq Petroleum Development B.V. for developments in the Majnoon Field, Southern Iraq. Under the competitively tendered contract, Petrofac is providing engineering, procurement, fabrication and construction management services for the development of […]
DNO Successfully Raises $240m
DNO, the Norwegian oil company with operations in Iraqi Kurdistan, has announcee that the bond offering it announced on 9th March has been completed on 30th March, 2011. The bond issue was split between a USD tranche of approx. USD 140 million and a NOK tranche of approx. NOK 560 million, for a combined amount […]
Barzani and Erdogan Open Erbil Int'l Airport and Turkish Consulate
Prime Minister Recep Tayyip Erdoğan in a historic visit today became the first Turkish premier to visit the Kurdistan Region. Together with President Masoud Barzani, they officially opened Erbil International Airport (EIA) and Turkey’s Consulate in Erbil. After welcoming Prime Minister Erdoğan and the rest of the distinguished guests, President Barzani said that he was […]
Turkish Company to Build Power Plant in Ninewa
The local government in Ninewa signed a deal with a Turkish company on Wednesday to build a gas-fired electricity generating plant. The plant will generate 750 Megawatts, a source from the Ninewa governor's office told Aswat al-Iraq news agency. “The $388 million-deal aims to improve the electricity in the province,” he noted. (Source: Aswat al-Iraq)
Mortgage Bank Increases Credit for Housing
Iraq’s Mortgage Bank has decided to raise the personal credit, granted for any citizen planning to build a house, to 60 million Iraqi dinars [$53,000], the Bank’s Director-General, Hussein Ahmed Tu’ma, said on Wednesday. He said that the minimum total area of each patch of land would be decreased to 90 square meters from 100 […]
International Forum for Rule of Law Initiatives in Iraq
As the international community moves forward with several rule of law initiatives in Iraq, the Rule of Law International Policy Committee (RIPC) held a meeting today at UNAMI Headquarters in Baghdad with the participation of representatives of 14 countries, the United Nations, the World Bank and EUJUST LEX Iraq, the European Union Integrated Rule of […]
EIC Trade Mission to Iraq in October
Britain's Energy Industries Council (EIC) is organising an oil and gas trade mission to Baghdad and Basra in Iraq in October. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating briefing meetings presented by qualified speakers with in-market experience and the opportunity to meet with local […]
How to do Business in the Middle East
On Thursday 5th May, the UK's Middle East Association (MEA) is holding a seminar with Mike Brennan, offering practical advice on how to do business in the Middle East. Mike Brennan has over 40 years of regional experience, with an enviable track record of contracts in both the private and public sectors. He knows how […]
IAU Progress Report for 2010
The United Nations Inter-Agency Information and Analysis Unit (IAU) has issued a progress report on its operations for 2010. The unit is an integral part of the Office of the Resident Coordinator/ Humanitarian Coordinator for Iraq. It was established in 2008 to provide support in evidence-based programming and advocacy in line with the needs and […]
Iraq's Visa Madness
Visa problems for foreign workers in Iraq continue to make the headlines. Last week we reported on the difficulties caused by a decision to channel visa applications through the office of the Prime Minister, Nouri al-Maliki; now we hear that the Basra Investment Commission has imposed its own restrictions, with the intention of reducing unemployment. […]
Swiss Company Reveals Oil Storage Plans in Basra
Dome International has met the chairman of Basra Investment Commission (BIC) to discuss the possibility of constructing warehouses for oil derivatives in Basra. The director of the company, Amen Jaffer, said, "the preliminary study of the project includes the construction of oil warehouses near Khor Al-Zubair port on an area of 40 acres with an […]
Iraq Awards $125m Power Deal to Saudi Firm
Iraq has awarded a $125 million [150 billion Iraqi dinars] contract to a Saudi Arabian company to build a 150 MW power plant in Basra, an Iraqi official said. Haider Ali Fadhil, head of the Basra Investment Commission, said the Saudi-based Dao al-Jomaih Group was awarded a contract to build the plant and install two […]