Tag Archives | Austria

Iraqi PM pushes Basra Desalination Project

By John Lee. The Prime Minister, Mr. Muhammad Shia Al-Sudani, has chaired a meeting this week discussing the sea water desalination project in Basra Governorate. During the meeting, they discussed "the acceleration of contracting and financing mechanisms." The Prime Minister affirmed the government's intention to involve reliable international companies in the implementation of the project. […]

Crescent Petroleum to Increase Investment in Iraqi Gas

By John Lee. UAE-based Crescent Petroleum is reportedly planning a significant increase in its production of natural gas at its Pearl Petroleum operations in Iraq. President Badr Jafar (pictured) is quoted as saying that there will be an investment of $1 billion to boost production to 500 million cubic feet of gas per day by […]

Chevron to Resume Drilling in Kurdistan

By John Lee. US-based Chevron plans to resume drilling at the Sarta 3 block in Iraqi Kurdistan. According to a report from Bloomberg, the company had temporarily halted exploration work in October after the Kurds voted in favour of independence. Chevron acquired Reliance Exploration & Production DMCC's 80 percent interest and operatorship of the production sharing contracts […]

OMV Pockets $107m from KRG Settlement

By John Lee. Austria's OMV has said its third-quarter clean operating result "was positively impacted" by about 90 million euro ($107 million) following a settlement over a dispute relating to the Khor Mor and Chemchemal fields in Iraqi Kurdistan. On August 30, 2017, the Kurdistan Regional Government (KRG) and Dana Gas , Crescent Petroleum and […]

EU Planes Deliver 266 tonnes of Relief Assistance

The European Commission is currently working alongside EU Member States to facilitate emergency aid deliveries in Iraq, to help people affected by the crisis in Mosul. Three additional planes carrying emergency assistance from Austria and France have now touched ground in Iraq, bringing the total number of flights facilitated and co-financed by the Commission to […]

KRG, Austrian FMs discuss Security

Head of KRG Foreign Relations, Minister Falah Mustafa, on Friday received Austria’s Minister for Foreign Affairs, Sebastian Kurz in his second visit to Kurdistan to discuss strengthening of bilateral relations as well as recent developments. Both Ministers expressed delight at the level of bilateral cooperation between both governments and expressed their commitment to broaden their […]

Dana Gas Shares Rise on $2bn Iraq Judgement

By John Lee. Dana Gas has announced that the London Court of International Arbitration (LCIA) has ordered the Kurdistan Regional Government (KRG) to pay $1.98 billion to a consortium that it leads. In a statement to the Abu Dhabi stock exchange, the Sharjah-based company claims that the judgement is final, binding and internationally enforceable, and […]

Court Orders KRG Pay Dana Gas $100m

The UK's High Court has ordered the Kurdistan Regional Government (KRG) to pay a consortium led by Dana Gas $100 million within 14 days. In a statement, the KRG's Ministry of Natural Resources said: “The Court’s decision does not relate to the substantive merits of the claims and counterclaims in the on-going arbitration between the […]