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Shvabe starts delivering Medical Equipment to Iraq

By John Lee.

Russia’s Shvabe Holding has transferred the first batches of infrared heaters and multi-functional inhalation anesthesia devices to distributors in Iraq.

The equipment will be used at medical facilities in Baghdad.

The Radiant Heat-BONO heater is used as the primary or additional source of heat for newborns during their resuscitation or super-intensive phototherapy to be performed in perinatal centers, obstetric institutions or research institutes.

The MAIA-01 system is intended for inhalation anesthesia of adults or children over one year during surgeries or artificial lung ventilation.

Shvabe Holding is part of the state-owned Rosteс State Corporation.

(Source: Rostec)

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Iraqi Court Rules Against KRG Sales of Oil and Gas

By John Lee.

Iraq’s Federal Supreme Court has ruled that sales of oil and gas law by the Kurdistan Regional Government (KRG), independently of the central government in Baghdad, is unconstitutional.

In a statement on Tuesday, the court said that the Oil and Gas Law of the Kurdistan Regional Government, No. (22) of 2007, violated the provisions of Articles 110, 111, 112, 115, 121 and 130 of the Constitution of the Republic of Iraq (2005).

It added that the KRG must hand over all oil production to the federal government, represented by the Federal Ministry of Oil.

Of possible concern to oil companies operating in Iraqi Kurdistan, the court said the Ministry of Oil has the right to “follow up on the invalidity of oil contracts concluded by the Kurdistan Regional Government with foreign parties, countries and companies regarding oil exploration, extraction, export and sale“.

With regard to the validity of contracts, the KRG responded that it “will take all constitutional, legal, and judicial measures to protect and preserve all contracts made in the oil and gas sector.”

The statement from the KRG says the court’s decision is “unjust, unconstitutional, and violates the rights and constitutional authorities of the Kurdistan Region. It is unacceptable and the Court must investigate further.“

More here (Arabic), here (Arabic) and here (English).

Full text of KRG response here.

(Sources: Ministry of Oil, Supreme Judicial Council, KRG)

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Improving the Lives of 5 Million Children in Iraq

UNICEF and Zain Iraq launch partnership to improve the lives of more than 5 million children in Iraq

UNICEF and Zain signed a partnership on Tuesday based on their shared values to support the rights of children in Iraq by adopting joint work plans on several child related areas, including education, health and nutrition, social protection, water and sanitation and youth engagement for the coming 3 years.

Under the partnership, UNICEF will join forces with Zain to leverage the leading telecom operator’s strong network and world-class digital services to reach out to young people and children in Iraq with critical information and hear their views through surveys which will enrich UNICEF programs.

“We welcome this partnership with Zain Iraq, which will enhance our work in Iraq and allow us to reach more communities, especially in hard-to-reach areas. This is one step forward in strengthening our strategic relationship with Zain to improve the lives of children and young people in Iraq”, said Sheema SenGupta, UNICEF Representative in Iraq.

Ali Al-Zahid, CEO, Zain Iraq, said: “We are pleased to announce this partnership with UNICEF, as it represents an extension of our mutual initiatives and efforts that aim to develop the living standards of Iraqi children and the local community. We place corporate social responsibility on top of our priorities and remain keen to employ our advanced technologies and services for the wellbeing of Iraqis, hand in hand with strategic partners as UNICEF”.

The partnership will allow over 5 million children under 5 years, and 2 million women to be reached by 2022 through promoting maternal, newborn and child health digital initiatives.

Activities also include reaching 20 million people with messages on COVID-19 preventive measures and vaccination.

The new partnership will also provide at least 1,000 young person in Iraq with opportunities to reach their full potential through learning and engagement opportunities.

Overall, Zain Iraq and UNICEF Iraq will work collaboratively to support the rights of children in Iraq by jointly supporting projects on education, risk communication and community engagement, health and nutrition, water, sanitation and hygiene, adolescent development and participation, child protection and social inclusion and policy.

The partnership will raise awareness and influence policy agendas for multiple audiences, including civil society, governments, business networks and the general public. It will also be executed through Zain’s leadership and impact in marketing and communication channels, innovation in communications products and services, and build on UNICEF ‘s expertise in programming for children and young people.

(Source: UN)

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Iraqi Min of Oil Denies that TotalEnergies Deal is Stalled

By John Lee.

Iraq’s Ministry of Oil has denied reports that its multi-billion-dollar deal with France’s TotalEnergies has stalled amid disputes over terms, and that it risks being scrapped by the next government.

On Monday, Reuters cited sources at the Ministry, and other oil industry sources, as saying that the deal was mired in disputes.

In a statement, the Ministry expressed its astonishment that the media reports include what it calls “inaccurate information.“

(Sources: Ministry of Oil, Reuters)

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Honeywell to Develop Iraq’s Haditha Refinery

By John Lee.

At its regular meeting this week the Iraqi Cabinet approved the recommendation of the Ministerial Council for Energy to proceed with the development project at Haditha refinery.

The American company Honeywell UOP is to carry out the work on behalf of the North Refineries Company (NRC).

Haditha refinery is situated in Anbar province.

(Sources: Office of the Iraqi Prime Minister, Govt of Iraq)

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DNO reports Record Revenues

DNO ASA, the Norwegian oil and gas operator, today reported record revenues exceeding USD 1 billion in 2021, up 63 percent from a year earlier, on the back of high oil and gas prices and solid production performance. Annual operating profit climbed to USD 321 million, reversing operating loss of USD 315 million in 2020.

Strong 2021 free cash flow of USD 362 million drove a 68 percent reduction in net debt to USD 153 million at yearend.

“Notwithstanding the continued impact of the pandemic, DNO became a billion-dollar company last year on the fiftieth anniversary of its founding,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani. “We are as committed as ever to explore for and produce oil and gas in a commercially attractive but also socially responsible and environmentally sensitive manner,” he said, adding, “This is our business model, this is DNO’s DNA.”

As previously reported, gross production at the Company’s flagship Tawke license in Kurdistan averaged 108,700 barrels of oil per day (bopd) last year, of which the Peshkabir field contributed 61,800 bopd and the Tawke field 46,900 bopd. Of the total, 81,500 bopd were net to DNO’s interest. North Sea net production averaged 12,900 barrels of oil equivalent per day (boepd), bringing the Company’s total 2021 net production to 94,500 boepd.

In 2022, DNO plans an operational spend of USD 800 million across the portfolio.

In Kurdistan, DNO is ramping up its drilling activities to maintain Tawke license gross production at around 105,000 bopd during the year, as well as a contribution from the operated Baeshiqa license in excess of 4,000 bopd. In December, the first phase field development plan for the license was approved by the Kurdistan Regional Government, clearing the way for a fast-track project to deliver early production from previously drilled but suspended discovery wells. Three additional Baeshiqa development wells will also be drilled this year.

In the North Sea, DNO projects net production in 2022 to remain around 13,000 boepd. The Company will participate in drilling the highly anticipated Edinburgh exploration well in the UK and six additional prospects offshore Norway, aiming to build on last year’s successes with the Røver Nord exploration well and the Bergknapp appraisal well.

Also in Norway, the DNO-operated Brasse project as well as the partner-operated Iris-Hades, Gjøk and Orion discovieries target 2022 project sanction, supporting the Company’s North Sea growth ambitions.

The Company’s net reserves stood at 321 million barrels of oil equivalent (MMboe) of proven and probable reserves (2P) at yearend 2021 with additional contingent resources (2C) of 189 MMboe, according to preliminary numbers.

A videoconference call with executive management will follow today at 10:00 (CET). Please visit www.dno.no to access the call.

Other key figures

Q4 2021 2021 2020
Gross operated production (boepd) 107,472 108,713 110,282
Net production (boepd) 94,175 94,477 100,063
Revenues (USD million) 396 1,004 615
Operating profit/-loss (USD million) 128 321 -314
Net profit/-loss (USD million) 65 204 -286
Free cash flow (USD million) 227 362 150
Net debt (USD million) 153 153 473

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Iraq Oil Exports Exceed $75bn in 2021

By John Lee.

Iraq’s Ministry of Oil has announced total financial revenues from oil exports to $75.650 billion for 2021, which it says is a marked increase on budgeted expectations for the year.

The Ministry’s Deputy for Upstream Affairs, Kareem Hattab, pointed to the commitment of the OPEC+ producers in achieving stability in oil markets, and expressed his hope that the required balance between supply and demand will continue to be achieved in the year ahead, especially after the increase of 400,000 barrels per day that will be supplied to global markets by OPEC+ from March.

He said Iraq’s quota will increase to 4,370 million barrels per day.

(Source: Ministry of Oil)

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New Healthcare Facilities for Baiji City

By John Lee.

Mashareea Al-Taqa Company for Contracting and General Trading has won a contract with the United Nations Secretariat for the “construction of maternity ward and drug store in al Bu’Aiji Health Centre and a prefab waiting room for ration card entity, Baiji City, Salah al Din governorate.”

The contract is valued at $109,026.50.

(Source: UNGM)

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Iraq was Largest Beneficiary of China’s Belt & Road in 2021

By John Lee.

Iraq was the largest beneficiary from China’s Belt and Road Initiative (BRI) in 2021, according to a study by the Green Finance & Development Center, at Shanghai’s Fudan University.

It says the country with the highest construction volume was Iraq, with about $10.5 billion, followed by Serbia (about $6.8 billion) and Indonesia (about $2.4 billion).

In the energy sector, Iraq received by far the most investment from China in 2021.

Iraq and China cooperate on oil (e.g., construction of the Al Khairat heavy oil power plant with a total value of about $5 billion), gas (e.g., development of the Mansuriya gas field by Sinopec together with Iraq’s Midland Oil Company), as well as solar (e.g., a 2 GW power PV project, currently in permission stage developed and owned by Power Construction Corporation of China valued at $3.7 billion).

The report suggests that the price for the solar power project seems unusually high if no energy storage facility is included, with a comparable 2.2GW solar plant completed in China’s Qinghai, with 202 MWh storage, at a cost of $2.2 billion.

A Chinese company, the China State Construction Engineering Corporation (CSCEC), will also rehabilitate Nassiryiah International Airport.

The full report can be read here.

(Source: Green Finance & Development Center)

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