HKN Energy Contract for Hamrin Field is "Activated"
By John Lee. A development contract for the Hamrin oil field has been activated with US-based HKN Energy in a ceremony attended by Minister of Oil Basim Muhammad Khudhair al-Abadi. According to the Ministry of Oil, the contract targets a peak production rate of 140,000 barrels per day of oil, alongside approximately 40 million standard […]
Starlink Granted Licence to Operate in Iraq
By John Lee. Starlink has been granted an official licence to operate in Iraq. The licence was signed at a ceremony held at the American Chamber of Commerce in the United States, in the presence of Prime Minister Ali al-Zaidi. According to Iraq's Communications and Media Commission (CMC), the licence was signed by the commission's […]
Extended Hours at Jordan's Border Crossing with Iraq
By John Lee. Operating hours at the Al Karameh / Terbil border crossing between Jordan and Iraq have been extended to accommodate rising land shipping traffic. According to Jordan's state-run Petra news agency, the Jordanian Ministry of Interior announced the change on Monday in coordination with official bodies at the crossing. Under the new schedule, […]
Shaikan Oil Production Temporarily Suspended; GKP Shares Fall
By John Lee. Gulf Keystone Petroleum (GKP) has announced that production operations at its Shaikan oil field in the Kurdistan Region of Iraq have been temporarily shut in as a safety precaution, citing the developing regional security environment. The company said its assets have not been impacted and that the latest gross production figure was […]
Iraq Signs 48 Deals with US Firms
By John Lee. Iraq has signed 48 agreements, memoranda of understanding (MoUs) and partnership declarations with US public and private sector entities spanning the oil, electricity, technology, finance and agriculture sectors. According to Iraq's Prime Minister's Office (PMO), the signing ceremony took place on Friday evening Baghdad time under the auspices of Prime Minister Ali […]
Floating Gas Terminal Deal Agreed for Khor al-Zubair
By John Lee. A floating gas platform project at Khor al-Zubair is set to proceed. following a meeting in Washington between Prime Minister Ali al-Zaidi and the chief executive of US-based Excelerate Energy. In October, the Ministry of Electricity and Excelerate Energy agreed on a floating storage and regasification unit (FSRU) with a capacity of […]
AKT Wins EPC Contract for Gas Recovery at West Qurna 1
By John Lee. An EPC (engineering, procurement and construction) contract has been signed for a low-pressure gas recovery project at Gas Compression Station 6 in the West Qurna 1 oil field. According to Basra Gas Company (BGC), the contract has been awarded to Abraj Al-Kut Oil Services Company (AKT). The project aims to recover associated […]
New Limestone and Oil-Well Cement from Basra Plant
By John Lee. The Basra cement plant has begun producing two new cement types: limestone cement and oil-well cement. The plant is operated by the General Company for Iraqi Cement, a subsidiary of the Ministry of Industry and Minerals. The limestone cement is manufactured to Iraqi standard specifications and is suitable for finishing and plastering […]
$105m Water Project Completed in Barzan Region
By John Lee. A water infrastructure project serving 53 villages in the Barzan region of the Kurdistan Region of Iraq has been completed at a cost of IQD 138.5 billion (USD 106 million). According to the Kurdistan Regional Government (KRG), the project supplies clean drinking water to more than 35,000 residents. The project draws water […]
New Geely Showroom Opens at Baghdad Mall
By John Lee. A new showroom for China's Geely cars has opened at Baghdad Mall in Al-Harthiya. Operated by Tareeq Al Majal, it will offer the Coolray and Emgrand models alongside after-sales support and parts. The company, a joint venture between Iraqi conglomerate Al Majal Group and Al-Markazia, an automotive group headquartered in Jordan, became […]
JP Morgan Branch to Open in Iraq
By John Lee. An agreement has been reached to open a branch of JP Morgan in Iraq to finance projects implemented by American companies. The deal was agreed during a meeting in Washington between Prime Minister Ali al-Zaidi and representatives of the bank. Earlier this month, we reported that KAR Electrical Power Plant Production Trading […]
Iraqi Banks Set for Return to International Correspondent Channels
By John Lee. Seven Iraqi banks have been cleared to re-enter non-dollar international correspondent banking channels, following high-level meetings between the governor of the Central Bank of Iraq (CBI) and officials at the US Treasury. The meetings followed Prime Minister Ali al-Zaidi's official visit to the United States and his meeting with the US President. […]