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 […]
By John Lee. KAR Electrical Power Plant Production Trading FZE (KEPPT) has engaged JP Morgan to arrange development financing for a $1.6 billion urea plant in Basra. According to a statement from KEPPT, the company will work with the bank to progress financing for the project in conjunction with several leading export credit agencies. The […]
By John Lee. The U.S. Embassy in Baghdad has announced that KBR has signed a memorandum of understanding with the local government in Basra aimed at drawing on American expertise to develop infrastructure and support economic growth in the province. (Source: U.S. Embassy Baghdad)
By John Lee. US-based KBR has been awarded a major contract by Basra Oil Company (BOC) to provide Integrated Field Management Services (IFMS) for the Majnoon oil field in southern Iraq. Majnoon is one of the world's largest oil fields, with estimated reserves of more than 38 billion barrels. Under the IFMS contract, KBR will deliver: […]
By John Lee. A high-level review meeting has been held to assess progress on Iraq's strategic Development Road project, covering design, costs and operational planning. The meeting examined timelines proposed by the appointed auditing firm for completing reviews of rail and road designs, alongside discussions on design costs for both the railway line and the […]
By John Lee. KBR (United States) has been selected by ENKA Insaat (Turkey) to provide detailed engineering design services for the Associated Gas Upstream Project Phase 2 (AGUP2), part of the Gas Growth Integrated Project (GGIP) operated by TotalEnergies in partnership with Basra Oil Company (BOC) and QatarEnergy in Iraq's Basra region. This latest award […]
By Raad Alkadiri for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US energy firms are returning to Iraq -- but politics could undo their fortunes US firms are back in Iraq. Whether their outlook is as propitious a year […]
By John Lee. Iraq's Ministry of Planning held an expanded meeting on last week with experts and consultants from KBR to discuss the implementation of the second phase of Iraq's Comprehensive Economic Plan [Vision 2050], a national vision extending to 2050 aimed at establishing a diversified and sustainable economy to drive the country's development. The […]
By John Lee. The Ministry of Trade has held a joint meeting between the Department of Foreign Economic Relations and the economic team from US-based KBR to discuss areas of cooperation supporting Iraq's trade policies and digital transformation efforts. According to a ministry statement, Director General of the Department, Riyadh Al-Hashemi, highlighted the importance of […]
By John Lee. The National Investment Commission (NIC) has announced the start of administrative procedures to designate the Al-Tayeb area in Maysan as a district, paving the way for its transformation into a major multi-service economic city and strategic investment opportunity. NIC Chairman Dr. Haider Mohammed Makiya said the Commission has received the master planning […]
By John Lee. Prime Minister Mohammed Shiaa al-Sudani on Saturday launched "Iraq Vision 2050: Towards Development and the Future" at a ceremony attended by government leaders, private sector representatives, diplomats, academics, and media professionals. The official government press release did not make the plan available to the public. Al-Sudani praised the work of the National […]
By John Lee. KBR has announced the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon oil field in Iraq, extending the agreement for another two years. Under the contract, KBR will continue delivering EPCM services to support production targets, enhance operational efficiency, improve safety, and […]
