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South Korea’s Hyundai Engineering & Construction Co. has started work on a $219 million project to expand a gas-fired power station near Baghdad, Bloomberg has reported. The Al-Quds station located in a suburb northeast of the capital will increase production to 1,400 megawatts from 900 megawatts withing 18 months, according to Qais al-Waeli, a spokesman […]
KazMunaiGas has informed Iraq's Ministry of Oil that is is withdrawing from negotiations on the Akkas gas field in Anbar province. "Unfortunately, the talks have failed to resolve all issues which emerged at a late stage", the company said in a statement, "and it has not been possible to develop a consensus document that would […]
Diwaniya council has signed memorandums of understanding with two international companies to implement a number of projects in the province, according to the Aswat al-Iraq news agency. "Chairman of the council, Jubeir al-Juburi, signed memorandums of understanding with a representative of a Korean company to build huge oil-fueled generators," said Muayad al-Ansari, a media advisor […]
South Korea, the world's fifth-largest crude oil importer, said on Thursday it had reached a deal with Iraq under which it would receive at least 250,000 barrels per day (bpd) of crude in an emergency situation, according to a report from Reuters. The supply is equivalent to about 10 percent of South Korea's total 2.4 […]
Iraqi Prime Minister Nuri al-Maliki will visit South Korea next Wednesday for talks with South Korean President Lee Myung-bak over expanding bilateral cooperation, Lee' s office said Thursday. The two leaders are expected to hold substantive discussions on mutual economic cooperation at the summit talks on April 28, as South Korea has technology and experience […]
[Update: The National Investment Commission (NIC) has issued a statement on 22nd March 2011 on behalf of the Chairman of the Nineveh Investment Commission, denying these reports of contracts signed with South Korean companies.] The Chairman of the Nineveh Investment Commission said on Wednesday that it has signed investment contracts with 20 South Korean companies […]
South Korea's Hyundai Engineering & Construction has reportedly won a contract worth $219 million to build a 500 megawatt power station near Baghdad, as part of the Iraqi government's efforts to address power shortages, a government spokesman said Wednesday. Ali al-Dabbagh, who is also a minister of state, told Dow Jones Newswires after a weekly […]
A Korean delegation represented by the chairmen of companies specializing in the construction of housing units visited Baghdad within the framework of the NIC (National Investment Commission) One Million Housing Unit project. NIC Chairman, Dr. Sami Al- Araji, stressed the Koreans seriousness in implementing the One Million Housing Unit project, saying that the NIC had […]
An investment delegation from the Korean company Hyundai, specialized in establishing and equipping oil-fired power plants, visited Anbar province on Tuesday to discuss proposals for investment in the province, according to a report from AKnews. Wissam al-Rawi, the head of the Energy Committee of Anbar Council, said that the council discussed investment with the Hyundai […]
Italy's Eni SpA and its partners will raise oil production from Iraq's Zubair oil field 10% above its previous level of around 180,000 barrels a day by the end of this year, the company said on Tuesday. Dow Jones reports that once the 10% increase is achieved, Eni will start receiving payment in the form […]
Dr. Sami Al- Araji, NIC Chairman, signed a Memorandum of Understanding in Seoul with a Korean company to build 500,000 housing units throughout Iraqi. The deal could have a possible total value of $25 billion, based on the previous information from the commission stating that each housing unit was expected to cost $50,000. Reuters reports […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
