Sterling Energy Update on Kurdistan Exploration Well
Sterling Energy Plc, the AIM-listed independent oil & gas company with operations in Iraqi Kurdistan, provided an update this morning on its exploration well at Sangaw North. Further to the announcement dated 6 August 2010, the repairs to the Sakson drilling rig have now been completed and the rig has resumed operations. Sterling's plan is […]
German Gas Contract Sparks New Row
We reported yesterday on the new gas deal between the Kurdistan Regional Government and the German giant RWE. Today, a new row has broken out between Erbil and Baghdad regarding the legality of Kurdish oil and gas contracts. Aswat al-Iraq reports that the Iraqi Oil Ministry, through the State Organization for Marketing Oil (SOMO), claimed […]
Zaha Hadid to Design Baghdad's New Central Bank
Baghdad-born architect Zaha Hadid has been appointed to design a new headquarters for the Iraqi central bank in Baghdad, two months after an attack on the building left at least 15 people dead. Bloomberg reports that Hadid, aged 59, was approached by the Iraqi authorities earlier this year, before the attack, and initial talks about […]
Iraq's Economy Mounts Shaky Advance, Led by Oil
"Seven years after the U.S.-led invasion, Iraq's petroleum industry shows signs of living up to the potential that American planners hoped for at the start of the military operation, a potential boost to the war-ravaged country's economic recovery. "After fits and starts, Iraq's oil production has rebounded to pre-war levels." So reports the Wall Street […]
Al-Shahristani Re-Affirms Stance on OPEC Quotas
Iraq's oil minister, Hussain al-Shahristani, has said Baghdad will consider applying OPEC quotas once its crude oil production reaches at least 4 million barrels a day in two to three years, according to an Associated Press report. He says there is no rush to discuss quotas with other members of the Organization of the Petroleum […]
$270m Chinese Concrete Factory for Muthana
Staff from the China National Building Material Company, CNBM, have started work on the construction of the first concrete factory in al-Muthana province. "The Chinese firm will construct the factory for an Iraqi investor," a local source told Aswat al-Iraq news agency. He explained that the total cost of the project is $270 million [320 […]
'More Than $1 billion' Investments in Ninawa
The Ninewa Investment Commission has granted 28 investment permits for investments totalling "more than $1 billion" [1.2 trillion Iraqi dinars] in the province. "The permits were granted to local businessmen to invest in the fields of agriculture, industry, tourism, health and education," a source from the commission told Aswat al-Iraq news agency. He explained that […]
American Company Proposes Power Plant in Babil
The head of the Babil Investment Commission said on Saturday that they had received an offer from a U.S. company to build a 250 MW power plant in the province. According to a report from AKnews, Alaa Herba explained that American company 'California Source', which specializes in the energy sector, had submitted a comprehensive proposal […]
Russian Delegation Considers Investment in Basra
A delegation of Russian companies met with the chairman of Basra Council on Thursday to discuss investment opportunities in the city, a media official of the Basra council said. "A delegation of Russian companies’ representatives held a meeting with Jabbar Amin, with whom they discussed investment opportunities in the city," Hashem Ubeidi told Aswat al-Iraq […]
$1.6m Roads Project in Karbala
Works commenced on a project to pave five roads in rural areas at a cost of 2.711 billion Iraqi dinars [$1.6m], according to a spokesman for al-Hindiya district on Saturday. “Local firms embarked on a project to pave five roads in rural areas in al-Hindiya district, (20 km) east of Karbala, and other neighbouring districts,” […]
Germany's RWE Signs Kurdistan Gas Deal
Prime Minister Barham Salih today announced the signing of a Cooperation Agreement between the Kurdistan Regional Government and RWE. The RWE Group is a leading European utilities company headquartered in Essen, Germany. It has extensive experience in the building, modernisation, and upgrading of energy infrastructure. Under the agreement, RWE will provide assistance to the KRG […]
Tenders for Seismic Surveys at West Qurna-2
Reuters reports that Russian energy company Lukoil and its partners have issued a tender for seismic surveys at Iraq's West Qurna-2 oilfield, according to a statement published on Saturday. Lukoil, which along with Norway's Statoil won a contract to develop the field, invited companies to bid for carrying out 3D field seismic surveys at the […]