WorleyParsons Confirms $100m Contract at Rumaila
WorleyParsons has been awarded a contract by BP Iraq NV and its partners PetroChina and the State Oil Marketing Organisation (SOMO) of the Republic of Iraq, to provide conceptual design, front end engineering design, minimum work obligations and integrated project management team services to boost production from the super-giant Rumaila Oil Field in Southern Iraq. […]
New Report on Investment in Iraq
Dunia Frontier Consultants have issued a new report entitled Foreign Commercial Activity in Iraq - 2010 Year in Review. According to their research, the total number of reported investments, service contracts, and other commercial activities by foreign firms more than doubled in 2010. The report includes a listing of the 30 biggest foreign investment deals […]
Nabucco May Revise Iraqi Pipeline Cost
Nabucco Gas Pipeline International may revise its cost estimate for the link to ship Caspian natural gas to Europe if it has to build a connection from the Iraqi border, according to its managing director, Reinhard Mitschek, quoted in the Moscow Times. The Vienna-based company expects to determine the project's cost this year after it […]
UK Construction Industry Looks to Iraq
The Financial Times reports that Iraq is an increasingly popular destination for British construction firms, with the International Monetary Fund (IMF) forecasting a rise in GDP of 6.75 per cent during 2011. A project manager at one construction company bidding for work in Baghdad, says: “For the very bravehearted among us there is a huge […]
Protester Killed, TV Station Torched
Hundreds of protesters inspired by unrest around the Arab world took to the streets of the northern Iraqi city of Sulaimaniya on Sunday and at least 48 people were injured, according to Reuters. Associated Press reports at least one person killed overnight. A source told Iraq Business News that a massive demonstration is planned for […]
Shell Confirms Participation in Basra Oil & Gas 2011
The 2nd Basra Oil & Gas Conference, sponsored as 'Official Digital Media' by Iraq Business News, is heading to be the foremost oil and gas event in Iraq. Shell’s participation in the event as one of the super-majors of the oil and gas industry clearly indicates how successful the event will be. At the start […]
Move One to Handle Logistics for Erbil Machinex Expo and Autoshow
Move One has been named the official freight forwarder for both the Erbil Machinex Expo and the Erbil Autoshow. The events, organized by Expotim and Pyramids International, will take place at the Basra International Fair Ground from March 17 – 20. Erbil Machinex will be the first professional machinery exhibition in Iraq, serving as a […]
Another Iraqi Oil and Gas Licensing Round Late 2011
Iraq aims to have another round of oil and gas licensing auctions during the fourth quarter of 2011, an Iraqi oil official said from Baghdad. Iraq has had three rounds of oil and gas auctions since the U.S.-led invasion in 2003. Increasing production at some of the fields, however, could mean overcoming some major technological […]
$86m Infrastructure Projects in Karbala
An al-Iraqiya deputy said on Wednesday that MPs from Karbala proposed two infrastructure projects worth a total of $86 million [100 billion Iraqi dinars] during the 33rd parliamentary session. Abdul Mahdi al-Khafaji told AKnews that the deputies proposed the reconstruction of two roads and the entrances to the holy city of Karbala which receives millions […]
German Investment in Ninawa
Nineveh Investment Commission announced this week that it had signed investment contracts with two German companies to build tourist facilities on the banks of the Tigris River. Jabor Abed Rabu, Chairman of the Commission, told AKnews that the companies involved are Zalmania and Backmana, but the value of the contracts were not disclosed. "The two […]
Iraqi Official Charged in Bomb Detector Scandal
Iraqi authorities have arrested a high-ranking police official in connection with the purchase of a bomb detector that the British government says does not work, officials said on Thursday. Reuters reports that Iraq spent about £75 million [$120m] on the devices, which are widely used by police and soldiers at security checkpoints and were meant […]
ABOT to use Cameron’s JISKOOT Measurement Systems
Six of Cameron’s JISKOOT CoJetix sampling systems have been ordered for installation at the new Iraqi Al-Basra Oil Terminal (ABOT). The terminal, currently under construction in the Persian Gulf, will enable Iraq’s oil export capacity to be boosted by 2.7 million barrels per day. Due to the importance of this measurement location to Iraq, the […]