The latest Iraq Diplomatic News – Egyptian National Day, Ebril, Egyptian Consulate and more – brought to you by Iraq Business News
Kuwait Energy has announced that the consortium comprising of Kuwait Energy (60%) as the operator, Dragon Oil (30%) and the Egyptian General Petroleum Corporation (10%) has commenced oil production from Faihaa-1 well in Block 9, Iraq. The Faihaa-1 well is located in Block 9 field, which is situated in the hub of Iraq’s oil industry […]
Kurdistan Regional Government Prime Minister Nechirvan Barzani on Tuesday received the Egyptian Ambassador to Iraq, Mr. Ahmad Hassan Darwish, and his accompanying delegation. Ambassador Darwish highlighted historical relations between Kurdistan and the Egyptian people, hoping to expand those relations particularly in the economic fields of trade and investment. He pointed out that Egyptian investors are […]
By John Lee. Petrojet has been awarded a $185-million (216-billion-Iraqi-dinar) contract to build the first gas-processing plant for Iraq’s Siba field. The Egyptian state-owned company will handle all the gas-processing plant’s related works including engineering, procurement, and construction (EPC). The project aims to increase the field’s production to 110 million cubic feet per day within […]
By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra Governorate, in Southern Iraq. The signing […]
By John Lee. An Iraqi court has reportedly rejected a $4.5-billion (5.4 trillion Iraqi dinar) lawsuit against Zain. The case centers around Zain's $1.2-billion acquisition of Iraqna from Egypt's Orascom Telecom in December 2007, after the Egyptian company dropped out of the running for a long-term mobile licence. According to Reuters, the Kuwaiti firm then […]
By Ayah Aman for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Iraqi Prime Minister Haider al-Abadi’s visit to Cairo on Jan. 11 included several political, military and economic agreements, and marked a new chapter in Egypt-Iraq relations. These agreements also contributed in […]
By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) has said that Egypt would like to purchase 4 million barrels of Iraqi oil per month, equivalent to about 130,000 bpd. The Minister, who is accompanying Prime Minister Haider al-Abadi on his visit to Egypt, added that talks on subject are still […]
By John Lee. Egypt’s state-owned Petroleum Projects & Technical Consultations Company (Petrojet) has reportedly won two contracts in Iraq valued at $142.5 million (166 billion Iraqi dinars). In the first contract, worth $75 million, Petrojet will carry out the first phase of the rehabilitation and upgrade of the current facilities in Basra Gas Company, for […]
By John Lee. A consortium has been awarded a $240-million engineering, procurement, and construction (EPC) order from Iraq's Ministry of Municipalities and Public Works to build pretreatment facilities at a desalination plant in Basra. Japan's Hitachi and Veolia Environnement of France have won $100 million of the total, with Egyptian engineering firm ArabCo getting the […]
By John Lee. Kuwait's Zain Group has announced that an Iraqi court has lifted a freeze on future revenue of Zain Iraq. But the company added that previously frozen revenues remain blocked, after a $4.5 billion lawsuit against the Iraqi firm was dismissed this month. In April, we reported that Zain was being sued for […]
By John Lee. Reuters reports that mobile phone company Zain is being sued for $4.5 billion over its 2007 acquisition of Iraqi telecom operator Iraqna. The company bought Iraqna for $1.2 billion from Egypt's Orascom Telecom after it dropped out of the running for a long-term mobile licence in Iraq. According to Reuters, the Kuwaiti firm […]
Foreign Minister Hoshyar Zebari inaugurated on Sunday evening, March 9, 2014, the residence of the Permanent Mission of Iraq to the Arab League in the presence of Ministers of Foreign Affairs, His Excellency the Secretary General of the League of Arab States Dr. Nabil al-Arabi , Mr. Amr Moussa, several Arab Ambassadors and permanent delegates […]
