The latest Korea – Iraq Business News – housing, construction, company Kogas, & more – brought to you by Iraq Business News
By John Lee. The Wall Street Journal and Reuters report that Iraq has shortlisted 12 international companies to build the new $18-billion oil export pipeline to Jordan, the country's first such pipeline in decades. Iraq's oil ministry has chosen these companies from a list of more than 80 international firms which submitted their credentials to build […]
By John Lee. Iraq has selected five additional international oil companies to bid for the development of its $4.4-billion Nassiriya oil field and the construction of a new 300,000 bpd refinery, reports Reuters. The companies added to the list are: France's Maurel et Prom; Russia's Rosneft; Essar UAE India; South Korea's GS Engineering & Construction […]
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 […]
ABB, the global power and automation technology group, has won an order from LS Industrial Systems (LSIS) to deliver a utility communications solution that will serve seven electricity distribution control centers in Iraq. The project is part of a larger infrastructure improvement initiative currently being carried out by the Ministry of Electricity in Iraq, aimed […]
Iraqi press sources claim that the Ministry of Electricity has ceased dealings with the German company Siemens and all its subsidiaries, due to the company not fulfilling its contracts. The spokesperson of the Ministry of Electricity, Musab al-Mudaris, reportedly said that Minister Kareem Aftan gave the instruction during a meeting with the South Korean company Hyundai […]
By John Lee. The Korean Gas Corporation (KOGAS) said on Wednesday that an attack on its operations at the Akkas gas field in Anbar will not delay its plans to start commercial production in September 2015. A spokesman for the state-run company told Platts: "There was no major damage to the facilities at the field, […]
By John Lee. Iraq's deputy prime minister for energy affairs, Hussein al-Shahristani, has opened a new gas-powered electricity plant in southern Baghdad. The plant has four 125-megawatt generators and cost $219 million to build, he said. Iraq Business News understands that the plant was constructed by the Korean company Hyundai. (Source: Al-Shorfa)
By John Lee. South Korea's LS Industrial Systems has won a $67-million deal to build power distribution control centres for the Iraqi government. Under the deal with the Ministry of Electricity, the company will build seven distribution control centers across the country by early 2015. According to the report from Electric Light and Power, the centres […]
By John Lee. Iraq and the Russian state oil producer Gazprom Neft have awarded an $879 million contract to South Korea's Samsung Group to develop the Badra oil field in eastern Iraq. Samsung will design and build phase two of a central processing facility (CPF) for oil production in the field, which is expected to […]
By John Lee. The Chairman of the National Investment Commission (NIC), Dr. Sami al-Araji, has signed a strategic memorandum of cooperation with the chairman of the Korea Trade-Investment Promotion Agency (KOTRA), O Young Hu [Young Ho Oh], to increase investment and trade between the countries. During his speech, Dr al-Araji reviewed the investment opportunities available […]
Minister Falah Mustafa, the KRG's Head of Foreign Relations, met with Mr Tae-In Chung, the Deputy Director General for the African and Middle Eastern Affairs Bureau of the Ministry of Foreign Affairs and Trade of South Korea to discuss bilateral ties. Both sides discussed areas of cooperation in political, economic, and cultural fields between Kurdistan […]
By John Lee. South Korea's STX Heavy Industries has said it has won a $150-million order to construct and operate a power plant in Amara, in Missan province. Under the turnkey contract signed with Iraq's Ministry of Electricity, STX will take responsibility for the operation and maintenance of the plant for a year after its […]
