Author: Editor

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Investment Opportunities: Imam Sadiq Hospital and Najaf Hospital

The Ministry of Health/Environment and the National Investment Commission (NIC) in coordination with Babil Governorate and Najaf Governorate are pleased to announce the investment opportunity of {Operating, managing and sustaining} of Imam Sadiq Hospital in Babil  and Najaf Hospital in Najaf according to investment law no. (13) for the year 2006, as amended.

Investors, companies and specialized sides are invited to submit their offers (commercial and technical offers providing that they include their vision of improving the medical services and scaling up performance on servicing and training the staff according to the standards approved by the Ministry of health with attaching the feasibility study knowing that all the above mentioned points shall be taken into consideration in evaluating the submitted offers) to the Contracts Section in the Ministry of Health and the National Investment Commission within (60) days from the date of publishing the announcement.

For any further information or fixing a date to visit the hospitals, please contact the following numbers:

  • 07822668818/ Dr. Nawras – DG – Ministry of health
  • 07823527029/ Dr. Adel –Manager of Imam Sadiq hospital
  • Or to send email to : healthit.2017@gmail.com
  • Please visit the Contracts section in the Ministry of Health to receive the investment profile

(Source: National Investment Commission)

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Qatar to Invest in Iraqi Oil

By John Lee.

Qatar Petroleum (QP) has confirmed that it plans to invest in Iraq’s upstream oil businesses.

President and CEO Saad Sherida Al Kaabi (pictured) told reporters:

“I have met personally with the Iraq’s Oil Minister (Jabar Al Luaibi) and have conveyed my interest in investing Iraq’s upstream business, and he welcomed that.

“Iraq is a very important country in the region. It has huge resources and needs a lot of investments to bring the country back to the prominence. It is a brotherly country, and we would like to help and assist in developing their upstream business.”

The Peninsula Qatar quotes him as saying that QP is currently exploring best ways of entering the Iraqi market.

(Source: The Peninsula Qatar)

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Jacobs signs MOU with Iraq Oil Company

US-based Jacobs has signed a Memorandum of Understanding (MOU) with the Iraq Oil Company to explore mutual benefits of cooperation in the region of Basra, Iraq.

The vast majority of Iraqi oil production takes place in Basra. Iraq Oil Company is looking for business partners based in the Kingdom of Saudi Arabia to support economic and social development in the Basra region through investments in upstream, downstream, refining, and other sectors.

David Zelinski, Jacobs Petroleum and Chemicals Senior Vice President and General Manager Middle East, said:

“Jacobs was selected as single engineering partner to sign this strategic non-binding agreement.

“We will explore possibilities to deliver our services in support of the Oil & Gas, Refining and Petrochemicals sectors in Iraq, from our Saudi Arabian office – where we have had a presence for more than 40 years – as this aligns well with the Kingdom’s Vision 2030 to increase the export of services.”

The signage took place during a business event attended by HH Khalid Al Faleh, Minister of Energy, Industry and Mineral Resources of Saudi Arabia and Chairman of Saudi Aramco; Jabbar al-Luaibi, Iraq Minister of Oil; Asad Al Eidani, the Governor of Basra; and Abdulaziz Al Shammary, the Saudi Ambassador in Iraq.

The governments of Iraq and Saudi Arabia work closely together to establish a clear regulation and warrantees for potential investors in terms of protection, trading and financial transactions.

(Source: Jacobs)

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Oil Exports Rise Again in December

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for December of 109,573,817 barrels, giving an average for the month of 3.535 million barrels per day (bpd), an increase from the 3.502 bpd exported in November.

The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan.

Revenues for the month were  $6.496 billion at an average price of $59.286 per barrel.

November export figures can be found here.

(Source: Ministry of Oil)

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China’s Zhenhua Oil to develop East Baghdad Oilfield

China’s state-run Zhenhua Oil has agreed to develop the southern part of the East Baghdad oilfield.

Under the agreement, Zhenhua will increase production at the field by 40,000 barrels per day above current production, and provide gas for power stations in the Baghdad area.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said that this contract is different from previous service contracts, “because the form of the contract was modified to serve the public interest, and to depend on the local employment as 80% of the project staff.”

The contract will also involve the construction of an industrial city and “residential integrated city.”

Jim Bei, the manager of the Chinese company, said his company was keen to cooperate with the Ministry of Oil to develop the field and raise its production.

Zhenhua appears to also be involved in the nearby Ahdab oilfield.

According to Reuters, the East Baghdad fiel is estimated to have around 8 billion barrels of crude reserves, and the potential to produce 120,000 barrels of oil per day.

(Sources: Ministry of Oil, Reuters)

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Int’l Companies Invited to Invest in New Pipeline

Iraq’s Ministry of Oil has invited local and international companies to participate in the execution of the oil export pipeline extension, which extends from the Kirkuk oilfield to the Iraqi-Turkish border, and will run side-by-side with the old strategic pipeline to the Turkish port of Ceyhan (pictured).

Mr. Assim Jihad, the spokesman of the Ministry of Oil, said that the pipeline will run for over 350 kilometers, and will be 48 inches in diameter.

It will be able to transport 1 million barrels per day (bpd) and will be built on a BOOT basis investment method, which includes the construction, property, operation and property transfer.

The government and the ministry does not bare or pay any money or spending over the project at the current time, but after the operation.

The project includes also the construction of a gas pipeline, pumps and reservoirs, in addition to the other completed accessories and services. The contract also commits the winner consortium companies to share with the local companies with 25% or more of the project proportion within the consortium.

Mr. Jihad said also that the oil projects company have determined the 24th of January 2018 as the last date for the companies to present their participation letter.

(Source: Ministry of Oil)

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Oil Ministry Declares its Final Exports for November

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for November of 105,050,819 barrels, giving an average for the month of 3.502 million barrels per day (bpd), considerably up on the 3.348 bpd exported in October.

These exports were shipped by 40 multinational companies from the ports of Basra, Khor Al-Omaia and the SPM’s on the Arab Gulf, with no exports registered from Kirkuk.

Revenues for the month were $6.021 billion, at an average price of $57.316 per barrel.

October export figures are available here.

(Source: Ministry of Oil)

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Majnoon Development Plan — Important Move in the Right Direction

By Ahmed Mousa Jiyad.

Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Developing Majnoon Oilfield by National Effort — Important Move in the Right Direction

On 21st December, the Ministry of Oil (MoO) approved a set of measures relating to the development of the super giant Majnoon oilfield after Shell relingushed it back to Iraq

In addition to my emphatic strong and absolute support for the Ministry of Oil on this action regarding Majnoon oilfield, I find it timely to highlight some related basic issues that MoO and other authorities, especially the Council of Ministers and the Parliament, should pay attention to and take the necessary action on them.

Please click here to download the full report.

Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here.

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Germany supports WFP Assistance to Conflict-Affected Iraqis

The United Nations World Food Programme (WFP) has welcomed a contribution of €4.4 million (US$5.2 million) from the Government of Germany, which will provide cash-based assistance to almost a quarter of a million Iraqis for one month.

Dr. Cyrill Nunn (pictured), Germany’s Ambassador to Iraq, said:

“The German Government greatly appreciates its strong and effective partnership with WFP in Iraq.

“WFP plays a critical role in providing life-saving assistance to the most vulnerable people in this country. With this additional contribution to WFP’s Emergency Operation, we reconfirm our commitment to those who are in desperate situations – they will not be forgotten.”

This contribution will allow WFP to increase the scale and reach of cash-based transfers through WFP’s food assistance management system, known as SCOPE. This allows vulnerable Iraqis to buy nutritious foods of their choice from local shops.

Every month, families are notified by text message that their electronic credit allocation of around €15 euros (US$17) per family member has been reloaded. Using a WFP SCOPE card, they can withdraw cash from a local money transfer agency or pay for food in designated stores.

Sally Haydock, WFP Representative and Country Director in Iraq, said:

“We’re grateful to the German Government for its contribution to assist Iraqis still affected by conflict.

“By giving cash assistance to families, we are giving them a broader choice in what they buy while helping strengthen the local food market.”

Since 2014, Germany has contributed €104 million (US$122 million) to WFP’s operations in Iraq. These funds have enabled WFP to provide nutritious food to the most vulnerable Iraqis and Syrian refugees every month.

(Source: WFP)

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Iraq to use Drones to Protect Pipelines

By John Lee.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has called on his Ministry draw up plans to build a new system to protect Iraq’s pipelines network using new technology including drones.

New monitoring systems and advanced cameras will also feature in the scheme, which is due start in the first quarter of 2018.

(Source: Ministry of Oil)