By John Lee. The Iraqi Cabinet has approved the recommendation of the Ministerial Energy Council regarding a settlement agreement with the South Korean company Kogas, the operator of the Akkas gas field. The agreement includes a payment of USD 49 million in crude oil, to be made by the State Oil Marketing Organization (SOMO). According […]
Tag Archives | Akkaz
Iraq's Four "Game-Changing" Energy Projects
Writing in Oil Price, Simon Watkins says Iraq's $27-billion four-project deal with French energy company TotalEnergies will be a game-changer. Click here to read the full article.
$4.7bn for Electricity Sector in 2014
By John Lee. The Iraqi government has allocated $4.7 billion to build power plants and finance existing electricity projects this year. Electricity ministry spokesperson Masaab Al-Mudarris told Zawya: "As part of its 2014 plan, the Ministry of Electricity requested a budget of $12 billion to complete existing projects and to sign new contracts to compensate for […]
Daewoo Wins $709m Gas Contract
By John Lee. Daewoo Engineering and Construction has won a $709-million contract to upgrade the Akkas gas field in Anbar province, near the Syrian border, the Iraqi cabinet secretary announced. The South Korean company will provide engineering, procurement, construction and commissioning of a central processing facility in the field. Construction of the new facility is […]
Lanco picks SGS for Inspection Contract at Power Plant
SGS has been awarded a three-year contract by India's Lanco Group [Lanco Infratech, LANCI] to manage on-site quality control for the construction of its new gas power plant in Anbar Province, Iraq. The AKAZ [Akkaz, Akkas] power plant at al-Qaim will have a capacity of 250MW (2x 125MW) and is estimated to require three years […]
Baghdad Puts Gas Trio on Table
Iraq plans to offer three gas fields with combined in-place resources of 25 trillion cubic feet of gas to international bidders “in the coming months”, according to Iraqi Oil Minister Hussain Shahristani.
Iraq to Launch 3rd Gas Field Auction
"The product of these fields will initially be used to supply electricity stations and for other domestic needs, with the rest to be exported. The ministry hopes that Iraq will reach the level of other gas producers in the region."