Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Iraq looks forward to attracting foreign investment worth $ 600 billion

Iraq set an ambitious target to attract foreign investment worth $ 600 billion for the reconstruction of war-torn country and the hopes attached to the housing project has attracted considerable foreign interest. As part of the plan for economic development a five-year government wants to attract foreign investment worth six billion dollars, but Sami Araji Chairman National Investment Commission, said that hopes of a much larger.

"They said during the Reuters Investment Summit in the Middle East," We have a goal. We have a five-year plan. We need six billion dollars, and we would like to go beyond that target to 600 billion.

"We hope of course that we can achieve this but we will be very happy if we get a good percentage of it .. if you have passed the 50 percent strongly."

The aim of the development plan of the Iraqi 2010 to 2014 to diversify its economy through partnerships between the public and private sectors in the industry and attract more investments. Iraq said in March that he wants bids to build one million new housing units worth 50 thousand dollars on average each and a total value of $ 50 billion.

"They said that the Commission consider raising the target number of units to two million housing units after the great interest shown by foreign companies.

He added, "If you build targeted the two million housing units, this in itself will bring us a good percentage of that goal."

"Even today, 132 companies made and we focus on the 35 ... aim (the agreements) at the end of the year."

And lacking in Iraq - which has the third largest oil reserves, and the tenth largest gas reserves in the world - to the investment as a result of decades of war and sanctions. And open the country's oil and gas sectors to foreign investment and the tender will be held on Wednesday put the contracts to develop three gas fields to international companies.

In addition to the housing project "They said that the Authority also focus on attracting investment for projects in the sectors of electricity, communications, transportation and oil refining.

Although the security situation still remains a major concern for foreign companies "They said that many investors, especially from the United States, Britain and France have expressed interest in working in Iraq.

He added, "People are still asking about the security situation ... the situation has improved a lot as a whole than ever before, investors are aware of that."

He said "Those who really want to invest in Iraq ... they see that Iraq today is much different than ever before in a positive way."

http://alwa3i.com/news.php?action=view&id=335

Maliki confirms after his arrival in Cairo at a depth of ties with Egypt and the need to develop

Prime Minister Nuri al-Maliki at a depth of bilateral relations and the need to develop in all areas Pmaikhaddm interests of the two brotherly countries and peoples.

A statement from the office of Prime Minister Maliki met Monday night in Cairo, Egyptian Prime Minister Ahmed Nazif, at the outset of his visit to the Arab Republic of Egypt.

For his part, Egyptian Prime Minister during the meeting wished to Iraq and its people more progress and prosperity, and satisfaction with the development of relations between Iraq and Egypt.

It is expected to meet with Maliki, who arrived in Cairo yesterday evening at the head of an official delegation of Egyptian President Hosni Mubarak today to discuss the development of relations and discuss the latest developments in political developments and issues of common concern.

The al-Maliki has visited on a tour of a number of countries in the region, Jordan, Syria and Iran, is scheduled to visit a number of Gulf states later.

http://www.ipairaq.com/index.php?nam...itics&id=31559

16th October 2010

Iraq to achieve production coping with its oil reserves?

An important report that had announced a large increase in Iraq’s national oil reserves from 115 to 143 billion barrels offered a vision about the possibility of reaching such a huge figure as well as the time of its achievement.

The report reiterated that when Iraq announced a “huge increase in its oil reserves,” the announcement was not taken by surprise, as Iraq has been boasting for years that it possesses the third largest oil reserves in the world. In addition, Iraq noted that it had reached such figures despite using an antiquated technology that allowed it to excavate a limited part of its territories in search of its oil reserves.

The report also pointed out that “along with the foreign investments and the worldwide experience, the Iraqi oil reserves should have been raised to a comparatively high level, but the increase that was announced did not reach more than 143 billion barrels, from the previously announced 115 billion.”

The Director General of Oil Reserves and Development of Oil Fields in the Iraqi Oil Ministry, Abdul-Aal Al-Dabbaj, said that the surge had been achieved from two oilfields that were given to foreign oil companies as part of last year’s oil tenders based on a new concept regarding the old oilfields.

He noted that Iraq’s confirmed oil reserves “would increase more than that, when a third party’s seismological survey will be carried out for other giant oilfields that were assigned to other international oil companies.”

Answering another question regarding the sites of other excavated oil sites, Dabbaj expected that they would take place in “al-Anbar Province,” pointing out that “this matter shall need further excavations in that sector.”

http://en.aswataliraq.info/?p=138016

17th October 2010

Conf. on oil ministry strategy training, technology in Basra

Iraq’s Southern Oil Company has organized a special conference on the strategy of the Iraqi Oil Ministry in the field of training and technology transportation, with the participation of major specialized global companies, the Company’s Training Director said on Sunday.

“The activity of the strategic conference for training and technology transportation began with the participation of specialized international companies, including Excel Mobile, Eni, Stat Oil and Shell, as well as foreign researchers and and researchers, representing Iraqi universities and institutes,” Hassib Attiya said.

Attiya said that the conference shall witness the completion of activities of the conference and the announcement of its the strategy of the Iraqi Oil Ministry in the field of training of specialized cadres. This will be achieved through the establishment of a “Petroleum and Excavation in Basra,” as well as the development of specialized teaching institutes in the oil sector.

http://en.aswataliraq.info/?p=138040

18th October 2010

Gharraf Oil Fields to be dug next year - source

The Director of Thi Qar Oil Fields has stated on Monday that early next year would witness the beginning of Petronas Company to dig oil wells in Gharraf Oil Field, pointing out that civilian works have already started in the area.

“Early next year shall witness the beginning of digging works in Gharraf oil fields, 25 km to the north of Nassiriya. All reports that spoke about the beginning of digging works were been incorrect,” Karim Yasser told Aswat al-Iraq News Agency.

Yasser said that Petronas began civilian works in the field, but it did not reach the stage of digging wells in Gharraf field. He added that such works had no relationship with Nassiriya field, which lies in the Gatti’a area, 30 km to the northeast of Nassiriya.

Media sources had reported earlier that the said Company had began digging works in two oil wells in Gharraf and Nasririya oil fields.

http://en.aswataliraq.info/?p=138073

Malaysia’s Petronas starts developing two Iraqi fields in south

Malaysia’s state-owned oil company Petronas has began drilling at two oil fields in southern Iraq. The fields are both situated in the Province of Dhiqar of which the city of Nasiriya is the capital.

Provincial officials, refusing to be named, said Petronas “has started initial drilling in Gharraf and Kataiya oil fields.”

They said the drilling and developing of oil wells was being carried out in cooperation with the state-owned Southern Iraqi Oil Company.

Petronas and the Japan Exploration Company had have a deal with Iraqi government to develop the Gharraf oil fields. The little known Kataiya oil field was not part of the deal, but the Malaysians are said to be interested in it. The officials said Gharraf, with estimated proven oil reserves of one billion barrels, is already producing about 50,000 barrels of oil a day.

The output is the outcome of drilling activities by state-owned Southern Iraqi Oil Company which holds a minority stake in the partnership.

The field was discovered in 1984 and it is situated 85 km north of Nasiriya. The deal with Petronas and Japan Exploration Company envisages 20 oil wells with an estimated daily output of 230,000 barrels over 20 years.

http://www.azzaman.com/english/index...10-19\kurd.htm

National Investment: ownership of the land the main obstacle to attracting global companies

The head of the national investment, on Tuesday, the main obstacle standing in front of attracting global investment firms is the ownership of the land carried out by the projects.

Sami al-Araji, told the Kurdish news agency (Rn) that "the only obstacle to attracting a greater number of international companies to implement service projects in the country is land ownership, which is supposed to solve once and for all during the coming period."

Araji added: "I made the investment during the last period to overcome the obstacles that stand in front of global investment firms, is that the ownership of the land and administrative laws adopted by some government institutions, stood against it."

He pointed out that "the next stage requires great efforts, to resolve land ownership disengagement of a number of government agencies such as the Provincial Council and the Ministry of Finance and other government institutions."

He added that "investment in Iraq can not be seen only in the peak of the event was coordination between government institutions."

The National Investment Commission approved in 2007 a new law to invest in Iraq, according to the law is the body responsible for all strategic investment projects of a federal nature exclusively, while the regional and provincial bodies responsible for investment planning and granting investment licenses in their areas.

http://www.aknews.com/ar/aknews/2/189363/

Fourteen countries participated in the Baghdad International Fair early next month

The Iraqi Ministry of Trade to Global 1200 companies and its territory, and local communities will participate in the Baghdad Expo, which will be launched in the first of the month of November next.

The general director of exhibitions at the Ministry of Commerce Hussain Sultan, told the Kurdish news agency (Rn) that "the Iraqi Ministry of Trade completed its preparations for the establishment of Baghdad International Fair 37 and attended by 1200 companies worldwide, Arab and local."

He explained that "the exhibition will contribute to supporting the economic reality in Iraq and to overcome the obstacles faced by international companies in the implementation of investment projects and global brand in the country."

He added that "the Iraqi Ministry of Trade was able to attract a large number of foreign and Arab companies in particular with regard to the implementation of giant economic projects," noting that "the exhibition, which will start at the beginning of November next, involving all government institutions."

http://www.aknews.com/ar/aknews/2/189528/

UN Iraq envoy escapes apparent assassination attempt

UN Iraq envoy Ad Melkert escaped an apparent assassination attempt on Tuesday when assailants bombed a convoy of vehicles that had left him at Najaf airport, south of Baghdad, a UN spokeswoman and police said.

"Mr Melkert is okay," UN spokeswoman Randa Jamal said.

The convoy had left the airport after dropping Melkert off when the bomb exploded, killing one policeman and wounding three, Najaf police spokesman Lieutenant Muqdad al-Musawi said.

Melkert had been meeting with Grand Ayatollah Ali al-Sistani, the highest-ranking Shiite cleric in Iraq.

http://www.zawya.com/Story.cfm/sidAN...tion%20attempt

17th October 2010

Responsible oil: Return of the global market requires standards compliance

An official with the oil, Sunday, that the oil industry, the national demand for a "commitment to the standards" after the return of Iraq to the world market, another official said that the contracts with oil companies "are not limited to development of the fields as it goes beyond that to develop sustainable plans for the development of the sector oil, while the company said that the international assistance to Iraq "depends on what he wants from the training and experience."

This came during a workshop organized by the Ministry of Oil today (Sunday) in Basra to discuss the training and development strategy and its relationship with international partners, attended by representatives of about 30 oil investment company, as well as senior officials of the Southern Oil Company.

The Director General of Training and Development in the Oil Ministry, Nihad Ahmed Mousa, told (Voices of Iraq) said that the contracting companies that won contracts licenses "committed under contract to submit their plans in the area of training and technology transfer through the allocation of five millions of dollars for each contract," noting that Iraq " came back strongly to the oil market requires to work quickly and seriously to meet the requirements and standards accepted internationally. "

She added that the Iraqi oil industry "moved away from these norms and values because of the policies of the former regime and the wars and the imposition on the country of sanctions," indicating that the development of human resources, working methods and keep pace with the evolution of technology "is located in the heart of the new requirements and urgent for the oil sector."

She reported that the Ministry's strategy in training, "starting from the belief lift Iraq from the surface of obstructive and to seek guidance optimum increase of production capacity through the assessment of existing infrastructure and re-examine its methods of work and build human capacity in various disciplines which have become binding in more than one face, especially after the signing of contracts service, "continued" as well as the ministry is working on the transfer of technology by all means available by sending missions to the universities and discreet development and modernization of institutions and scientific research centers and laboratories and the establishment of training centers and academies. "

The agency that "it will be through cooperation and coordination with international companies and to ensure that the interests of all parties in accordance with Article 26 of the contracts, which aims to establish and develop Iraqi industry through partnership with the contracting companies."

The director of the Oil Training Institute in Basra, Ali Rahim, told (Voices of Iraq) said that the workshop was "very important to discuss and determine the mechanism of development and training at the oil installations, especially after the signing of several service contracts with investment companies to increase production capacity to approximately 12 million barrel during the six years, "noting that such contracts" will not be limited to the development of producing fields, but also to develop sustainable plans for the development of Iraq's oil sector. "

The Merciful that the workshop focused on "training and development and technology transfer through the expansion of the opening of schools and the development of institutes of oil," revealing a "near the development academy of oil in Basra and a school for drilling for the development of cadres and rehabilitation for the management of oil wealth under the integrated study on the development of these institutions in the Ministry of Oil."

Rahim said that the Iraqi cadres, "capable of completing the tasks of developing the oil sector," noting that the proportion of employment in the Iraqi oil sector "would amount to about 85% in all the terms of reference of what Iraq can control the process of development of this industry and management."

To the Director of Training and Development company Petronas of Malaysia, Mohammed Hisham, told (Voices of Iraq) that the company "started small but now large and have traditions and methods of training and development and technology transfer to countries in which they operate", "pointing out that the company" will transfer its expertise and experience to Iraq ".

He also said that Petronas to "seek international expertise to develop continually reflected positively on the level of training and development in countries that operate in its territory," adding that "it depends on what you want from Iraq training and experience."

Oil official last participant in the workshop preferred not to reveal his identity, he told (Voices of Iraq) said that the Commission painted a strategic training and technology transfer "has proposed the distribution of amounts owed to the events by 50% for training and 25% of the missions and 25% for infrastructure," noting that the infrastructure include "Building a school for drilling and the College of Petroleum and oil development institutes and training centers as well as laboratories for the development of Iraqi oil companies and the development of research centers and oil development."

http://ar.aswataliraq.info/?p=252978