Thread: Kurdistan Economy

DNO International the Norwegian sell oil from the Tawke field in Zakho enough to continue to work

Said oil and gas company DNO International the Norwegian , on Wednesday, it sells oil in the Kurdistan region of Iraq that it would not continue to work in the absence of a permit the Federal Government for export.

According to published news site News news section, the Chief Executive Helge Eide said in an interview with him, that the DNO International was obliged to continue to work as much as possible instead of waiting for a political solution between Baghdad and Erbil.

Eide said that the costs of extraction of low and stable enabling them to run the Tawke field in the district of Zakho profitably, because of growth in energy production, refinery and an increase in short-term contracts with refiners from the territory of Kurdistan. The CEO that the strength of liquidity resulting from those profits eased cost pressures waiting to allow the federal government and regional authorities to resume exports, stalled since last September.

http://radionawa.com/ar/NewsDetailN....169&LinkID=155

Kurdistan region seeks to increase oil revenues to $25 billion

Minister of Natural Resources of Kurdistan region, Ashti Hawrami, announced on Thursday that his ministry seeks to increase the daily oil production in the region to 3-4 million barrels in the coming four years, noting that revenues will increase during this period to $25 billion.

“The region has 45 billion barrels of oil and 200 trillion cubic meters of natural gas,” Hawrami said at a press conference n Arbil, attended by Aswat al-Iraq news agency, noting that the ministry has prepared a strategy to increase the oil and gas production.

“The gas will be exported through Turkey,” he said.

http://en.aswataliraq.info/?p=135839

Zain Iraq, begin operating the network in Kurdistan in early 2011

Chief Executive Officer of Zain - Iraq Emad Makiya said that the company will begin operations in the Kurdistan region of Iraq in January, and the expectation that enhanced customer base the company in the country to reach more than two million subscribers by December 2011.

Said Makiya, who was recently appointed new Chief Executive Officer of Zain Iraq in a press statement to Reuters, said the group will continue its investments in Iraq, which is a key market and The high growth, predicted to increase revenue in next year between 15 to 20 per cent very least appreciated.

The Makiya had said last June that Zain intends to enter the Kurdistan region through a network is completely covered at the beginning of 2011, and they want access to all areas of Iraq.

Makiya also noted that the unit Zain in Iraq, will invest about 16 to 20 per cent of its revenues each year to develop and expand its network in the country over the next three years at least.

http://www.ipairaq.com/index.php?nam...onomy&id=29419

Kurdistan Regional Government agreed to pump gas to Europe via Nabucco

..and the Kurdistan Regional Government signed a cooperation agreement with R . W . any German pump gas supplies to the Nabucco pipeline project.

It quoted an official of the Kurdistan Regional Government's R . W . any German Minister of Natural Resources in Kurdistan Ashti Hawrami said that he could pump up to 20 billion cubic meters per year across the line to supply gas to Turkey and Europe.

Hawrami said that the location of gas reserves in the province of Kurdistan, it is ideally placed to enter the European gas market safe and profitable, expressing his pleasure to accept the accession of the Kurdistan region to the project to transfer natural gas to Europe.

"We believe that the contribution of the region in the processing of gas to Europe that would solve part of the global energy crisis and increasing the volume of financial resources for Iraq and the Kurdistan region, although the region's share will be in accordance with the constitutional share of 17 percent of the state budget."

He Hawrami said in remarks reported by the Kuwaiti News Agency KUNA that the proportion of gas production in the Kurdistan region of more than local needs, especially after the insurance needs of power plants and meet the needs of other projects that the export of gas from the Kurdistan region through the Nabucco project would greatly benefited the economies of Iraq and the region.

He stressed that successful policy of the Government of the Territory in the management of natural resources from oil and gas are called for European countries to rely on gas to resolve the Kurdish part of the energy problem in the world and Kurdistan to join this project is a very significant achievement for Iraq and the region.

For its part, the company said R . W . This means that the agreement with the Kurdistan government that aims to help the company develop and design infrastructure to transport natural gas within and outside the country and find a way to connect the production of Iraqi Kurdistan to the market and will be sharing of export revenues to be available to all of Iraq to strengthen the country's reconstruction.

The group of companies affiliated under the Nabucco project had been agreed last week to join the Kurdistan region to the project where the pipeline will transport through the territory of Kurdistan within Turkey for export lines connecting the tanker to Europe.

http://www.ipairaq.com/index.php?nam...onomy&id=29617

A government source : Government of the province continues to implement the policy of oil and gas investment in accordance with the Iraqi Constitution

The official Department of Foreign Relations Kurdistan Regional Government on Monday, that his government continues to implement the policy of oil and gas investment in accordance with the Iraqi constitution.

And the relocation of the regional government today, Falah Mustafa as saying "We do not wait for instructions from the Ministry of unproductive and unsuccessful, such as the Ministry of the Iraqi oil".. pointing out that "The Ministry bellowed since previous years, funds Iraqis without completion of the simplest service projects of electricity and provide petroleum products to them".

He explained that his "government in the past policy as directed by the fifth session of the Government of the province, which was able to provide electricity and oil derivatives to the people of Kurdistan ".. saying "we do not rely later on the federal government in our quest to make the province energy security on the line in the world."

Mustafa said, wondering "Why is the Ministry of Electricity and the Iraqi Oil Ministry, through Siastmha wrong for the Iraqi people?" .. pointing out that the "tragic situation is evident in all regions of Iraq back Kurdistan region."

He said that "statements of the Iraqi Oil Ministry aimed at covering up its failure to face up to economic growth of the region."

He stressed Mustafa "the importance of Oil and Gas Law of Iraq in addressing the problems facing the investment and export in the region".. pointing out that "the provincial government confirmed the re- oil and gas revenues to the state treasury in the federal government that is distributed to all parts of Iraq in a fair".

Announced that the Iraqi Oil Ministry on Saturday that Iraq is exporting crude oil and gas through the Iraqi oil marketing company exclusively and there is no any other party authorized to sign contracts with international companies or local in this regard, according to a ministry statement.

The ministry stressed according to the statement received by (Akaniwz) that he had "no right to any other contract for the export of crude oil, gas or their derivatives".. saying he had "no value for any commitments made other than the Ministry of Oil."

His comments came the Iraqi oil ministry after the company announced (RWE) German energy services and gas, last Friday, they signed an agreement with the Kurdistan Regional Government, including assistance to develop and design infrastructure for the transfer and export of gas, as well as research into methods of export from the region to Turkey and Europe Through a tube "Nabok," according to a statement of the company.

http://www.aknews.com/ar/aknews/2/178227/

More oil wells drilled in Iraq’s Krikuk

Iraq’s Northern Oil Company has drilled 31 new wells in latest bid to boost output from the aging Kirkuk’s oil fields.

Oil first was pumped from Kirkuk in Iraq more than seven decades ago.

Kirkuk’s fields, once believed to be one of the world’s largest, have seen their output falling to less than half a million barrels a day from nearly 2 million barrels in the past.

“We have completed the drilling of 13 wells out of 25 the company wants to drill this year,” the company’s director Kadhem Hussein said.

Currently Kirkuk fields produce a little more than 300,000 barrels a day. Output was estimated at nearly 1 million barrels before the 2003-U.S. invasion of Iraq.

The company is drilling new wells in various fields. This year’s plan calls for the drilling of 15 new wells in Aujail, six in Bas Hassan, two in Jumboor and two in Khabbaz.

“The aim behind the drilling is to increase output and develop fields,” Hussein said.

The company has nine drilling towers with the capacity to drill wells to a depth of about 5,000 meters.

http://www.azzaman.com/english/index...08-30\kurd.htm

Biden to visit Iraqi Kurdistan to discuss the formation of next government

Said press secretary to the President of the Kurdistan Region, on Tuesday, the U.S. Vice President Joseph Biden, will visit Erbil to discuss the latest developments in the formation of the next Iraqi government, said a source familiar with that Biden's visit will be on Wednesday.

"Said Faisal al-Dabbagh told (Voices of Iraq) is scheduled to visit U.S. Vice President Joseph Biden, the city of Arbil and meet with regional president Massoud Barzani and senior officials of the government," noting that U.S. Vice President "will discuss during the visit, the latest developments to form a government and distribution of the sovereign with the Provincial officials, as well as to discuss bilateral relations between the Kurdistan Region and Iraq on the one hand and the United States on the other."

For his part, a source familiar with the Kurdistan Regional Government said Biden's visit to Arbil "will be on Wednesday."

Vice President Joe Biden had arrived in the Iraqi capital of Baghdad, on Monday, according to a spokesman for the U.S. embassy in Baghdad

http://radionawa.com/ar/NewsDetailN....840&LinkID=151

Jordanian Minister of Economy : We seek to actively contribute to project construction in Kurdistan

The Minister of Economy and Trade of Jordan on Tuesday that the state is seeking in general to promote bilateral relations between the Kurdistan region and Jordan in all areas.

Revealed Amer Hadidi told a news conference after meeting the prime minister of Kurdistan, Barham Saleh, was attended by the correspondent of the agency Kurdistan News (Akaniwz) today announced that "the Jordanian government is serious in its efforts to strengthen relations between the Kurdistan region , and Jordan, particularly in the area to develop and strengthen economic and trade relations."

"The Kingdom of Jordan is working to create an appropriate atmosphere for Jordanian Businessmen and Kurds in order to promote trade and economic relations between the two sides in all areas, particularly in the field of medical and therapeutic services, provision of medicines," adding that "we are working to invest in the field of medicine and provision of supplies Medical province in the near future."

He said Iron that "the current visit is aimed to soften the atmosphere and pave the way for future visits exchanged between the two sides, in order to allow for strengthening relations between the two sides at the best possible picture, especially that the Kurdistan Region enjoys security conditions have been stable," and expressed his "belief that there are many job opportunities in the Kurdistan region, which encourages Businessmen and investors will Jordanians to go to the Kurdistan region, and we are keen to have us well-attended to be able to contribute effectively to project construction in Kurdistan."

The delegation of commercial and industrial high-Jordan has arrived on the Kurdistan region, and met with Kurdish regional president Massoud Barzani, the Prime Minister Barham Salih, and decided to hold the conference of trade ministers of Jordan and Kurdistan at the Hall of Saad al- Abdullah in Arbil.

http://www.aknews.com/ar/aknews/2/178444/

Iraq’s Future: The Kurdish Perspective

Even though Kurds in Northern Iraq enjoy relatively low levels of violence and have previously expressed interest in becoming their own autonomous region, Mr. Mahmoud Othman – a leading member of the Kurdistan Alliance – underscored his commitment to do whatever it takes to keep Iraq together and start healing after seven years of war. During a conversation with me on “Prism,” his impatience and patriotic frustration was evident in his comments to me, saying, “these people are not putting National interest of their country ahead of their blocs – and that is the main issue. Otherwise they would have been more flexible.”

Since Iraqis risked their lives to vote in elections March 7, their impatience too continues to mount as neighbourhoods remain unchanged. Electric power is intermittent, violence continues and elected leaders have yet to find consensus on any major issue – like who will be Prime Minister. This is because results left two parties with almost the exact same portion of votes and parliamentary seats; Former Prime Minister Iyad Allawi’s Iraqi National Movement and current Prime Minister Nuri Al-Maliki’s State of Law Coalition captured 25.9% and 25.8% respectively. Al-Maliki’s bloc received 89 seats against Allawi's 91. A 163-seat majority is is needed to form a government in the 325-seat parliament. Meanwhile the Iraqi National Alliance and Kurdistan Alliance were 3rd and 4th in the vote count.

Mr. Othman told me although his group is willing to work with any form of a coalition government, his hands are essentially tied. He’s waiting for Al-Maliki and Allawi to come to power-sharing consensus. A painstaking process that even in stable countries like Australia can take months. Only after this is resolved, can key ministerial posts be filled and critical legislation – like the distribution of oil wealth, a rebuilding of damaged infrastructure and security plans post-U.S presence – be decided.

Making that flexibility more challenging is the fact that even though the two leading parties paint themselves as more secular –sectarian divisions have emerged. Coalitions talks were suspended recently due to comments by Nuri Al-Maliki that Allawi’s candidate list was simply a “Sunni List.” Mr. Othman says there is no other option but to work past these separations: “They have to do it. This is their country, nobody will lead it for them, they have to rule their country and form a government as soon as they can.”

http://insidethemiddleeast.blogs.cnn...h-perspective/

Irbil is witnessing an exhibition next week to build the participation of 300 companies from 22 countries

Said Minister of Construction and Housing Kurdistan Kamran Ahmed Abdullah, the Irbil completed its preparations for the establishment of the third international exhibition of the materials and construction technology and equipment "Project Iraq 2010" next week.

Abdullah added during a press conference held the center of Erbil, said that the exhibition will generate benefits to construction projects in Kurdistan, and all of Iraq, expressing hope that the great benefit of reconstruction projects in the quality of the material presented and conform to modern standards.

For his part, General Manager, or EFPs, Krupp during the conference that this year's show bigger and broader, and different from previous years and offers tremendous opportunities and unique to the participating companies and local communities, pointing out that the exhibition will be held for the period from 27 to 30 of September the current.

For his part, Director General, Ministry of Trade and Industry, Government of the Kurdistan region Ibrahim Aziz Abdoan fair, the opportunity for local businesses to get agencies of foreign companies, indicating that the participation of companies and at this level opportunity for the relevant ministries from Baghdad and Erbil to benefit from the experiences of companies and exchange experiences with them.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-09-23