Iraqi Oil Minister Visits Tatneft HQ

By John Lee.

On a recent visit to the Russian republic of Tatarstan, Iraq’s Oil Minister Ihssan Abdul-Jabbar Ismail attended a presentation that the headquarters of the oil company Tatneft.

The Iraqi delegation also visited the Taneco Oil Refining Complex, the Kama Tyres manufacturing plant, and the Nizhnekamsk Truck Tyre Factory.

Nail Maganov, General Director of PJSC TATNEFT:

“Our Company has had a long-standing partnership with the Republic of Iraq. Our professionals have participated in the construction of 700 wells in the West Qurna, North Rumaila and Luheis oil fields, as well as in other projects.

“Tatneft has unique competencies in the Upstream and Downstream, the use of digital technologies in the industry. We are confident that our experience and knowledge could find their application in the Republic of Iraq as well, and we are ready to continue cooperation with our Iraqi partners in areas of interest to them”.

(Sources: Ministry of Oil, Tatneft)

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Covid-19: Govt amends Curfew, Announces New Measures

By John Lee.

The Iraqi Government has issued the following announcement regarding measures to help prevent the spread of COVID-19:

  1. A partial curfew will be implemented during the blessed month of Ramadan from 20:00 to 05:00 the following morning for the first three weeks of Ramadan, while allowing restaurants to provide delivery service.
  2. A full curfew on Fridays and Saturdays every week. Exempt are pharmacies, food marts, fruit and vegetable stands, and bakeries, and allowing them to carry out their work until 19:00, and allowing restaurants to provide delivery service.
  3. Enforcing measures by health control teams and the security forces, and holding violators accountable.
  4. Directing health departments to ask their employees in hospitals and health centres to provide proof that employees are Covid-19 negative through PCR examination results, with tests being conducted within a week or providing proof of their inoculation with a Covid-19 vaccine, to allow them to work starting 1 May 2021. Directors of health institutions will be held legally responsible for implementing and following up these procedures.
  5. Conducting PCR tests on all patients and their caregivers if they are unable to provide a certificate of  inoculation against Covid-19.
  6. Starting 1 May 2021, those employed in retail stores, restaurants, malls, factories and other places of business subject to health control measures will require inoculation. Health permits for the aforementioned businesses will be conditional on providing proof of inoculation of all staff. Following this date, businessowners will be held accountable and subject to fines if any employee cannot provide evidence that:
    • The employee has been inoculated with a Covid-19 vaccine.
    • Those who are unable to be inoculated such as pregnant women and other contraindications, or those who can provide evidence that they contracted Covid-19 during the last three months, by providing a positive PCR test or CT-scan will need to provide proof of a negative PCR test taken within the most recent week.
    • Ministry of Health monitoring authorities, with the support of the security forces, must hold accountable violators of these health measure in accordance with the Public Health Law and the decisions of the Higher Committee for Heath and National Safety.
  1. Starting 1 May 2021 staff working in pharmacies, drug stores, laboratories and private clinics, including radiology clinics, and private hospitals will not be allowed to work if:
    • They cannot provide evidence that they are Covid-19 negative through a negative PCR test conducted within the most recent week.
    • There cannot provide evidence of being inoculated with the Covid-19 vaccine.
    • Ministry of Health inspectors and the relevant associations (Doctors’ Syndicate, Dentists’ Syndicate, Pharmacists’ Syndicate) will enforce the implementation of the above and hold violators accountable and closing the practice of violators in accordance with the laws and regulations in force.
  1. Citizens will not be allowed entrance into ministries and government agencies of a crowded nature  (pension department, traffic directorates, passport directorates, civil and national status directorates, etc.), as well as not allowing employees of the aforementioned to work starting from 20 April 2021, in case of:
    • They cannot provide evidence that they are Covid-19 negative through a negative PCR test conducted within the most recent week.
    • There cannot provide evidence of being inoculated with the Covid-19 vaccine.
    • All government entities not associated with a ministry and all governorates are responsible for implementing the procedures and following up with their employees and considering any violating employee in absent without payment.
  1. Sports clubs will not allow the presence of any of the players unless they present their inoculation card for the Covid-19 vaccine.
  2. The Ministries of Education, Higher Education and Scientific Research, and Health will coordinate regarding conducting campaigns to vaccinate the covered groups of faculty and students.
  3. The Hajj and Umrah Authority will not register any of the citizens wishing to perform the Umrah and Hajj pilgrimages unless it is proven that s/he has obtained the inoculation card with the Covid-19 vaccine.
  4. Urging all government entities not associated with a ministry and all governorates to direct their employees to be inoculated with a Covid-19 vaccine.
  5. Calling upon community leaders, students of religious sciences, tribal sheikhs, intellectuals, activists and media professionals to take their national and moral responsibility in raising awareness and not to stand watching in light of the continuing dangerous epidemiological situation.
  6. Calling upon all media outlets, governmental and private institutions, and civil society organisations to make efforts to urge citizens to adhere to preventive measures, and to encourage citizens to take the vaccine in health centres and accredited hospitals.
  7. Putting into force the application of the provisions of Article 240 of Penal Code No. 111 of 1969, as amended, related to violating orders and regulations, and authorizing the security forces in support of health teams and their application against citizens in violation in the event that they fail to pay fines.
  8. The Joint Operations Command, Baghdad Operations Command, the Ministry of Interior, and the National Security Agency will continue to support health teams in their inspections and follow-up on the implementation of preventive measures in public places, restaurants, shopping malls, cafes and others during and outside of official working hours.
  9. Reducing working hours in public departments and institutions by one hour during the holy month of Ramadan.

(Source: Govt of Iraq)

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Iraqi PM lays Foundation Stone for $4bn Refinery Project

By John Lee.

Prime Minister Mustafa Al-Kadhimi has laid the foundation stone for the South Refineries Company (SRC)‘s new Fluid Catalytic Cracking (FCC) complex at Basrah Refinery.

The project will be built by Japan’s JGC Corporation, and will increase refinery capacity by 55,000 barrels per day (bpd).

It will be funded by a loan from the Japan International Cooperation Agency (JICA).

More information here, here and here.

(Sources: Iraqi Ministry of Oil, Office of the Iraqi Prime Minister)

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DNO announces Ramp-Up of Oil Production in Iraq

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 54.0 million net to the Company from the Kurdistan Regional Government (KRG), of which USD 35.2 million represents DNO’s entitlement share of February 2021 crude oil deliveries to the export market from the Tawke license in Kurdistan.

Of the balance, USD 4.6 million is an override payment equivalent to three percent of gross February 2021 Tawke license revenues under the August 2017 receivables settlement agreement and USD 14.2 million is a payment towards the Company’s arrears relating to withheld payment of Tawke license 2019 and 2020 entitlement and override invoices.

Following receipt of the latest arrears payment, the outstanding balance has dropped from USD 259.0 million at the end of 2020 to USD 238.6 million.

DNO operates and has a 75 percent stake in the Tawke license, which contains the Tawke and Peshkabir fields, with partner Genel Energy plc holding the balance.

With resumption of payments, the partners have stepped up drilling of new wells at Peshkabir and workovers of existing wells at Tawke in 2021, raising gross operated license production from an average of 110,300 barrels of oil per day (bopd) in 2020 to 110,900 bopd in January, 112,000 bopd in February, 113,100 bopd in March and 115,500 bopd month-to-date in April.

(Source: DNO)

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Invitation to IBBC Members’ Introduction Webinar







Dar Al Handasah has provided consultancy services to more than 950 clients in 60 countries, and has handled projects involving a total investment cost of over US$ 300 billion. Through these projects, we participate actively in the development of our societies. With a permanent staff of 9,850 and over 4,000 successfully completed projects, DAR has in-house expertise and experience to cover a wide range of engineering fields.

AlBilal Group was Founded in 1993 by Mr. Akeel Abdul Razzak, AlBilal Group has for more than two decades operated across diverse development sectors including Oil & Gas, Power, Water and Infrastructure. The years that followed the tenuous security, socio-political and economic dynamics in Iraq, AlBilal Group emerged as a preferred and a reliable partner to international development agencies and companies such as USDoD, USACE, Black & Veatch, and Washington International in support of the Iraq’s re-construction and development programs.

The National Bank of Iraq (NBI) was founded in 1995 as a publicly traded, private sector company, offering comprehensive banking services to individuals and businesses in Iraq. As a result of the Bank’s success and to fuel future growth, its paid up capital was increased from the initial 400 million IQD (USD 361,000) to IQD 250 billion (USD 215 million) in December 2013. In 2005, Capital Bank Jordan acquired majority shares (61.85%) in NBI, allowing the Bank to expand its business offerings, strengthen its global footprint and help promote financial inclusion across the country.

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New Contracts for Iraqi Drilling Company (IDC)

By John Lee.

The Iraqi Drilling Company (IDC) has announced its intention to conclude contracts with Chinese and American companies operating in Iraq to drill and rehabilitate dozens of oil wells in the country.

The company indicated it is about to start drilling 20 wells in the Nasiriyah field in Dhi Qar, which are included in a long-term plan with the Dhi Qar Oil Company (DQOC) to advance the oil sector, due to be completed in over two years.

After the relative relaxation of the impacts of the coronavirus, the Iraqi Drilling Company resumed its negotiations with the international companies developing oil fields in the country and their counterparts affiliated with the Ministry of Oil in the provinces, in preparation for signing the postponed contracts with the aim of enhancing Iraq’s energy capabilities.

The drilling and rehabilitation contracts, hoped to be concluded soon, include drilling 37 wells in the Zubair field for the Italian company ENI, the main operator of the field, and starting discussions with BP, the main contractor in the Rumaila field, to develop the giant field west of Basra.

This is in addition to the near signing of a contract to drill 43 wells in Majnoon field with the Basra Oil Company (BOC), which is the third largest oil field in the world, with reserves of 6.12 billion barrels.

The Iraqi Drilling Company has completed all its preparations to sign a contract with the Central Oil Company, to drill 27 wells in the East Baghdad field, and it continues its discussions with the Maysan [Missan] Oil Company (MOC) to sign a contract for drilling 22 wells in the Bazargan field as well as rehabilitating another 150 wells and a contract to operate a number of drilling towers and rehabilitation of a large number of wells in the Kirkuk fields with the North Oil Company (NOC).

(Source: Govt of Iraq)

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Shamaran Buys Up Bonds

By John Lee.

ShaMaran Petroleum has reported in connection with the Company’s 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6) that the Company has purchased Bonds in the market at commercially attractive rates.

As a result, Bonds in the principal amount of $4.95 million have been retired.  The Company’s Bond amortization payment due in December 2021 has accordingly been reduced by 33%.

Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran commented:

We are very pleased that, as a result of continued sustained production in the Atrush field and the first quarter 2021 increase in oil prices, the Company has been able to utilize its free cash to make purchases in the market as permitted by the January 2021 amendment to our Bond terms. 

“ShaMaran is committed to reducing its debt obligations and looks forward to making another positive report to the market at the end of the next quarter.

(Source: ShaMaran Petroleum)

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Japan Invests Additional $600k for Life-Saving Services in Iraq

Japan Invests Additional US$ 607,500 for Life-Saving Maternal and Protection Services

The Government of Japan approved an additional US$607,500 to support the continuation of reproductive health and gender-based violence-related services provided by UNFPA.

In 2020, Japan contributed US$ 1.3 Million to increase the utilisation, access, and continuation of life-saving, survivor-centred, multi-sectoral gender-based violence and sexual reproductive health (SRH) services in Baghdad, Salahuddin, Anbar, and Nineveh governorates of Iraq.

The new funding will ensure that people in need, particularly returnees in the targeted areas, receive comprehensive reproductive health and gender-based violence services while supporting the prevention of COVID-19 through raising awareness of the most vulnerable communities including the people with disabilities and through the provision of Personal Protection Equipment to services providers.

His Excellency Mr Suzuki Kotaro (pictured), Ambassador of Japan to Iraq, stated: “Japan has recently decided to provide a new assistance package for Iraq amounting over US$50 million including this project as assistance for women and girls.”

“With this package, the total amount of Japan’s assistance to the people affected by the crisis reaches US$590 million since 2014. I hope that the assistance from the Government and people of Japan will help ensure the protection of women and girls among internally displaced persons, returnee and host community”, he added.

“The complexity of challenges faced by the people of Iraq, particularly women and girls, has grown due to COVID-19. The pandemic is deepening pre-existing inequalities and exposing gaps in social systems. UNFPA strives to ensure that vulnerable women and girls receive a comprehensive package of services, a continuum of care, as well as timely referrals,” said Dr Rita Columbia, UNFPA Representative to Iraq.

Japan has been a UNFPA strategic partner with contributions amounting to a total of US$12,459,585 over the last six years ensuring most vulnerable women and girls affected by the crisis across Iraq have access to health and protection services.

UNFPA is thankful for the Government of Japan for their commitment to the reproductive rights of women and girls and ending gender-based violence.

(Source: UN)

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Dhi Qar Protests: PM Replaces Governor

By John Lee.

Iraq’s Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.

The Prime Minister addressed the developments in Dhi Qar province, and confirmed that, following consultations with key stakeholders, a new governor has been appointed to run the province and his name will be announced shortly.

He told the Cabinet that an advisory council will be appointed in Dhi Qar, reporting to him, and that he he will follow up on a daily basis with the new governor and the council on all matters related to the reconstruction of Dhi Qar.

He also indicated that the results of the investigation into the violence during the recent demonstrations in Dhi Qar will be announced.

(Source: Govt of Iraq)

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