US Law Firm Awarded for Iraq Advisory Role

By John Lee.

New York-based law firm Cleary Gottlieb Steen & Hamilton LLP has won the Infrastructure and Energy Projects Team of the Year award at Law.com International's Middle East Legal Awards 2022.

According to a press release from the firm, it "was recognized for advising on Iraq's gas growth integrated project, one of the largest projects ever in Iraq."

The firm represented the Iraqi Ministry of Oil and two Iraqi state-owned companies, Basra Oil Company (BOC) and South Gas Company (SGC), in the major $27-billion investment project with France's TotalEnergies.

Cleary partner Andrew Bernstein and associate Jad Nasr were mentioned as part of the team advising the Iraqi government in a Law.com International article about the deal.

The firm had previously advised Iraq's oil ministry on a $17.2 billion deal with Shell and Mitsubishi to develop the infrastructure required to process natural gas in the southern part of Iraq.

(Source: Cleary Gottlieb)

The post US Law Firm Awarded for Iraq Advisory Role first appeared on Iraq Business News.

WHO marks 5 Yrs of Strategic Partnership with USAID in Iraq

WHO marks five years of strategic partnership with USAID in Iraq

The World Health Organization (WHO) marks the five-year milestone of its strategic partnership with the United States Agency for International Development (USAID) to support the provision of life-saving and essential healthcare services to vulnerable populations in Iraq.

Over the past five years, USAID has provided WHO Iraq with support totalling US$122 million.

Dr Ahmed Zouiten, WHO Representative in Iraq, said@

"USAID has been the biggest funding partner of WHO in Iraq over the past five years. We're proud of this genuine and growing partnership, which helped us expand access to much-needed healthcare services for millions of people in different governorates.

"We greatly value and appreciate this impactful partnership, and we're exploring new opportunities to deepen this collaborative partnership further."

Impact of USAID's contribution

Thanks to the generous contribution from USAID, over 6 million primary health care consultations, including mental and physical rehabilitation services, were provided to Iraqi citizens, while over 1,500 individuals benefited from various capacity building training.

USAID support also provided 56 new ambulances to the Iraqi health system, helping to ensure uninterrupted access to referral services. Funds also went to delivering essential medicines, medical supplies and diagnostic equipment to various conflict-affected governorates to provide comprehensive primary health care services to millions of people, including around 300,000 Syrian refugees and host communities in Erbil, Dahuk and Sulaymaniyah governorates.

In addition, USAID has contributed to WHO-Iraq's preparedness and response to COVID-19 by adding up to 800 new COVID-19 vaccination locations, including in challenging humanitarian areas, such as in camps housing refugees and internally displaced persons.

It is also providing equipment and supplies, as well as technical assistance to Iraqi laboratories, clinics, and hospitals for testing, diagnosing, and treating COVID-19. USAID funding is also helping train frontline workers on caring for COVID-19 patients and organizing awareness-raising campaigns.

Heather Schildge, Acting USAID Mission Director to Iraq, said:

"The United States is the leading humanitarian assistance provider in Iraq. We are pleased to celebrate five years of fruitful partnership with the WHO and stand committed to working with the Government of Iraq and other partners to provide critical services to Iraq's most vulnerable populations."

(Source: UN)

The post WHO marks 5 Yrs of Strategic Partnership with USAID in Iraq first appeared on Iraq Business News.

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)

The post Honeywell to Develop Iraq's Haditha Refinery first appeared on Iraq Business News.

China “the Only Winner” in this Huge Iraqi Oil Field

Writing in Oil Price, Simon Watkins that the recent approval of the Iraqi National Oil Company (INOC)'s acquisition of ExxonMobil's 32.7 percent stake in the West Qurna 1 oil field is likely to leave China delighted, the U.S. irritated, and Iraq's oil industry still unable to achieve any of its key oil output goals.

Click here to read the full article.

The post China "the Only Winner" in this Huge Iraqi Oil Field first appeared on Iraq Business News.

Chevron’s Oil Deal with Iraq “is One to Watch”

Writing in Oil Price, Simon Watkins says that, given the negative history of dealing with China over the Nassiriyah project and the fact that Russia is occupied elsewhere in the country and the region, the United States might be in an unusually positive position to take a significant role in either the Nassiriyah field development alone or in the broader Nassiriyah Integrated Project (NIP).

Click here to read the full article.

The post Chevron's Oil Deal with Iraq "is One to Watch" first appeared on Iraq Business News.

INOC to Negotiate with Chevron to Develop Dhi Qar Oil Fields

By John Lee.

The Iraqi Cabinet has authorised the Iraqi National Oil Company (INOC) to negotiate directly with US oil company Chevron to develop four oil fields in Dhi Qar Governorate.

According to a statement from the Ministry of Oil, the fields constitute the Nasiriyah block, which has a target output of 600,000 barrels of crude oil per day (bpd) over a seven-year period.

The announcement follows last month's approval by Iraq's Ministerial Energy Council for discussions to go ahead.

Chevron currently has interests in the Sarta and Qara Dagh blocks in Iraqi Kurdistan.

(Source: Ministry of Oil)

The post INOC to Negotiate with Chevron to Develop Dhi Qar Oil Fields first appeared on Iraq Business News.

US provides Additional $3m COVID-19 Assistance to Iraq

The United States, through the United States Agency for International Development (USAID), is pleased to announce an additional $3 million in urgent COVID-19 assistance for Iraq.

USAID's contribution will help Iraq better detect and diagnose COVID-19 infections, reduce COVID-19 cases and deaths, and broadly increase access to vaccines for Iraqis nationwide.

This assistance, implemented by UNICEF and the World Health Organization (WHO), will add up to 800 new COVID-19 vaccination locations, including in challenging humanitarian areas, such as in camps housing refugees and internally displaced persons.

It will also provide equipment and supplies, as well as technical assistance to Iraqi laboratories, clinics, and hospitals for testing, diagnosing, and treating COVID-19. USAID funding also will help train frontline workers on caring for COVID-19 patients and promote vaccination among the Iraqi public.

"As COVID-19 cases continue to surge in Iraq, this latest contribution from USAID will help our local partners better protect the people of Iraq through increased vaccination centers and enhanced prevention and treatment measures," said Robert Birkenes, USAID's Acting Mission Director to Iraq. "This is an example of our ongoing commitment to help save lives and defeat the pandemic together."

USAID has committed more than $60 million since the start of the pandemic to help Iraq respond to COVID-19. The $3 million in additional COVID-19 assistance funds from the American Rescue Plan Act builds on our August donation, in partnership with the Iraqi Ministry of Health, of more than 500,000 Pfizer vaccine doses through COVAX, the global initiative to equitably distribute safe and effective COVID-19 vaccines worldwide.

The activities implemented with this additional support will contribute to the overall goals of the Government of Iraq's National Strategic Preparedness and Response Plan and the National Vaccine Deployment Plan.

(Source: USAID)

The post US provides Additional $3m COVID-19 Assistance to Iraq first appeared on Iraq Business News.

Iraq OKs talks with Chevron on Oil Exploration

By John Lee.

Iraq's Ministerial Energy Council approved discussions with US-based Chevron on the development of four exploration blocks in Dhi Qar.

The statement from Iraq's Ministry of Oil gave no further details, but the project had previously been discussed during Prime Minister Mustafa al-Kadhimi's visit to the United States in August.

Chevron currently has interests in the Sarta and Qara Dagh blocks in Iraqi Kurdistan.

(Source: Ministry of Oil)

The post Iraq OKs talks with Chevron on Oil Exploration first appeared on Iraq Business News.

Khor Mor gets $250m Financing from DFC

Pearl Petroleum, the consortium led by Dana Gas and Crescent Petroleum of the UAE, has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (DFC) to support the gas expansion works currently under way at the Khor Mor gas plant in the Kurdistan Region of Iraq (KRI).

DFC is the development finance arm of the U.S government and proceeds from the 7-year DFC financing will support an increase in gas production capacity by 50% to 690 million standard cubic feet (scf)/day to meet rising demand for clean natural gas for electricity generation and industry in the KRI. The total project cost is $630 million and the remaining financing has already been secured through a regional bank facility and the EPC contractor.

The KM-250 project is the first stage of a two-train expansion project at Khor Mor that aims to boost total production capacity to approach 1 billion scf/day. Work resumed in April 2021 after onsite construction was halted last year due to the COVID pandemic and is currently on track for completion by April 2023.

Total investment by Pearl Petroleum at Khor Mor to date exceeds US$2.1 billion with total cumulative production of over 341 million barrels of oil equivalent (boe) in natural gas and liquids. The uninterrupted supply of gas to power plants in Erbil, Chemchemal and Bazian has resulted in significant fuel cost savings and economic benefits for the Kurdistan Region and Iraq as a whole.

The gas produced to date has enabled emissions savings of 42 million tonnes of CO2 by displacing diesel fuel in power generation in the KRI, thereby making a major contribution to reducing greenhouse gas emissions and local air pollution in the region as well as supporting the transition to better energy sources to tackle global climate change.

Between 2018 and 2021, the Khor Mor Gas Plant also benefitted from a 45% production increase through an optimization of the facility bringing current total production to 106,000 barrels of oil equivalent per day (boepd). The project is today the largest regional private sector upstream gas operation in Iraq.

Mr. Majid Jafar (pictured), CEO of Crescent Petroleum and Board Managing Director of Dana Gas, commented:

"This financing agreement with DFC underscores the importance of developing the natural gas resources in the KRI to support regional economic development and growth. Despite the global challenges presented by the COVID pandemic, we have continued to maintain our record of uninterrupted operations and even managed to grow production. The DFC agreement is a testament to our successful track record and further highlights the potential of these resources and the bright future for the KRI."

Dr. Patrick Allman-Ward, CEO of Dana Gas, added:

"With our partners in Pearl Petroleum we are proud to be further developing the gas sector of the Kurdistan Region of Iraq, delivering expanded supply of cleaner energy, and supporting local economic development. This agreement underscores our continued confidence in the region and its long-term prospects."

Mr. Dev Jagadesan, Acting CEO of DFC, said:

"DFC's investment in the Khor Mor expansion will substantially increase access to energy for people all across the Kurdistan Region of Iraq. This highly developmental project represents the United States' continuing investment in the KRI."

In April 2007, Dana Gas and Crescent Petroleum entered into an agreement with the KRG for exclusive rights to appraise, develop, produce, market, and sell petroleum from the Khor Mor and Chemchemal fields in the KRI. Production from a newly built plant at Khor Mor began just 15 months later, in October 2008, an industry record. In 2009, Pearl Petroleum was formed as a consortium with Dana Gas and Crescent Petroleum as the majority shareholders, and with OMV, MOL, and RWE joining the consortium subsequently with a 10% share each.

Full-time staff at the operation number over 500, with over 85% local staff, including many in senior management positions. The companies have implemented a corporate social responsibility program to support local communities with equipment and supplies to deal with the COVID pandemic such as ventilators, sanitizers and protection equipment, in addition to a pledge to donate 100,000 vaccines to be administered in those local communities. This is in addition to ongoing support with local education, health and power supply as well as humanitarian aid for persons displaced from conflict zones as well as orphans. These initiatives assist the local communities in improving their standard of living, health, well-being, security and stability and the development of human capital.

(Source: Dana Gas)

The post Khor Mor gets $250m Financing from DFC first appeared on Iraq Business News.