ShaMaran Strikes Oil in Kurdistan
ShaMaran Petroleum Corp has announced a major oil discovery in the recently drilled Atrush-1 exploration well in Kurdistan. The Atrush-1 well was spud on October 5, 2010 and successfully reached a revised total depth of 3400m on January 21, 2011 after 91 days. The well was drilled on time and within budget and encountered a […]
$400m Makeover for Saddam's Palace
Kings, presidents and emirs are invited to a former Saddam palace for the Arab League summit in May. Saddam Hussein's former palace in Baghdad has been completely renovated in preparation for the historic summit. The palace, which has a history as tumultuous as the country's, has been given a $400m makeover. Many hope the gleaming […]
50 Spanish Companies Join Erbil Business Forum
Spain’s official foreign trade agency yesterday [Monday] launched a two-day business forum in Erbil to strengthen commercial ties between Spain and the Kurdistan Region. At the forum, 50 leading Spanish companies met government officials and representatives of over 150 local firms. On behalf of Prime Minister Barham Salih, the Chairman of Kurdistan’s Investment Board Minister […]
Water Levels Fall at Key Iraqi Dams
The Iraqi Ministry of Water Resources announced on Monday a significant decline in water levels in the country’s strategic Mosul and Haditha (pictured) dams due to a lack of rainfall in the Tigris and Euphrates rivers and a reduction in water flow from Turkey, Syria and Iran. Director of Projects Ali Hashim told AKnews that […]
Media Company Gets $4.4m Investment Licence in Basra
Basra Investment Commission has granted an investment licence to the Al- Mawada Company for Media Production and Broadcasting. The project includes the construction of a media complex in Kut Al- Faranki, and it will be completed within 6 months. The total value of the project is estimated at 5.24 billion Iraqi dinars ($4.4 million). The […]
New $4m Laboratory in Basra
Basra Investment Commission has granted an investment license for an agricultural project to construct a technical laboratory for tissue cultivation in a cost of 4.8 billion Iraqi Dinars [$4m]. The project includes the building of a laboratory to produce palm trees and plants by using tissues. It also includes a research and studies centre to […]
Swedish Ambassador Positive on Kurdistan
The Swedish Ambassador to Iraq, Carl Magnus Nesser, said the Kurdistan Region is very appropriate for investment, according to a report from AKnews. During a visit to the Awamedica pharmaceuticals factory (pictured) in the Kurdistan Region, he said there are many Swedish companies considering investment in Kurdistan. (Source: AKnews)
Iraq May Buy Electricity from Armenia
Iraq may purchase electricity from Armenia, said Vice-Prime Minister of IraqSaleh al-Mutlaq at the meeting with Armenian Ambassador Murad Muradian. The sides discussed possible areas of economic cooperation, including ways of supplying electricity from Armenia to Iraq, expressing the hope that this problem will be resolved. Ambassador Muradian informed the vice-prime minister of Iraq that […]
New Iraq Video from Mines Advisory Group
MAG (pronounced “Mag”) – Mines Advisory Group – is a neutral and impartial humanitarian organisation that clears the remnants of conflict for the benefit of communities worldwide. MAG is creating a more secure environment in Iraq, enabling development and helping people to return home safely. Internal conflicts, the 1980-88 war with Iran, the 1991 Gulf […]
Sadr Power Station Starts Operation
Iraq's Ministry of Electricity announced on Tuesday the experimental launch of a number of electrical units in the al-Sadr gas station. According to the report from AKnews, the plant is operated by the Iranian company Snair (which Iraq Business News believes to be Sunir). The ministry’s media spokesman, Musab al-Mudarres, told AKnews that the station […]
Design & Supply of metering skids for Al Najaf depot
The Oil Projects Company (SCOP) announces a Design & Supply tender to be performed in two phases. -Supply of five metering skids. -One Small volume prover. - Two drainage vessels. The origin of the materials should be American, Japanese or Western European. Tender documents may be collected by an authorized representative of the tenderer at […]
New Tenders from MRC
Midland Refineries Company has announced the tenders listed below: * Tender no 1239/2011 : Purchasing 26 items of Spare for P.918 Wbe 1.A,B * Tender no 1260/2011 : Purchasing 2 items of Spare for centrifugal fan * Tender no 1253/2011 : Purchasing 10 items of Spare for Gearbox Type ASR 450 SPEZ * Tender no […]