By John Lee.

The US Ambassador to Iraq, Matthew H. Tueller, joined Minister of Water Resources Jamal al-Adili and Italian Ambassador Pasquino to celebrate the successful completion of emergency efforts to stabilize Mosul Dam.

The United States provided $124 million for the U.S. Army Corps of Engineers (USACE) to serve as the “Engineer” for the project, working side by side on the $408 million contract between the Government of Iraq and the Italian company Trevi.

(Source: US Embassy in Baghdad)

Sponsored by the Embassy of the Republic of Iraq in Rome, and in coordination with the Federation of Italian Industries, the Iraqi Conference on Investment and Reconstruction was held at the end of March to discuss investment opportunities and the contribution of Italian companies in the reconstruction of Iraq.

Representatives of more than 200 Italian companies witnessed the participation of the National Investment Commission (NIC), Undersecretary of the Ministry of Commerce, Directors-general, officials of oil and transport ministries, Baghdad investment, and representatives of the Federation of Chambers of Commerce from the Iraqi side and from the Italian side by Italian Undersecretary of State for Development and Economy, the Italian Ambassador in Baghdad.

The conference also witnessed the holding of meetings between the representatives of the Iraqi authorities and Italian companies to discuss investment opportunities in the fields of energy, oil, agriculture and infrastructure.

(Source: Ministry of Foreign Affairs)

Support for Iraq stabilization continues with EUR 2.4 million contribution from Italy

The Government of Italy has contributed an additional USD 2.7 million (EUR 2.4 million) to UNDP’s Funding Facility for Stabilization (FFS) supporting communities affected by the Islamic State of Iraq and the Levant (ISIL), taking its total contribution to USD 12.9 million.

“Iraq was officially declared free from ISIL just over one year ago, but that doesn’t mean efforts to stabilize the country are over,” says Mr. Gerardo Noto, UNDP Resident Representative a.i. for Iraq. “Now is not the time to be scaling back funding for a programme that has helped almost three million displaced Iraqis return home.”

“It’s very heartening to see countries like Italy acknowledging this and reaffirming their commitment to helping communities across Iraq rebuild their lives. We are grateful for this support and we look forward to continue serving the people of Iraq,” adds Mr Noto.

“Italy maintains its commitment in supporting Iraq’s stabilization efforts to provide basic services to the newly liberated areas,” says Italian Ambassador to Iraq, Mr. Bruno Pasquino.

“This fourth contribution to the FFS is a testimony of the full engagement of Italy for the people of Iraq, as a qualified partner in various fields, from the provision of services to the rehabilitation of infrastructure and to the capacity-building activity in favour of the Iraqi Security Forces,” adds Ambassador Pasquino.

At the request of the Government of Iraq, UNDP established the Funding Facility for Stabilization in June 2015 to facilitate the return of displaced Iraqis, lay the groundwork for reconstruction and recovery, and safeguard against the resurgence of violence and extremism.

The Facility currently has more than 3,100 projects underway in 31 liberated cities and districts, helping local authorities to quickly rehabilitate essential infrastructure. More than 95 percent of all stabilization projects are done by the local private sector employing local labour.

(Source: UNDP)

By John Lee.

Oil Minister Thamir A. Al-Ghadhban met Eni’s CEO Claudio Descalzi on Monday in Baghdad.

Eni’s CEO outlined the Company’s current activities in the country in light of the recent achievements of the Zubair field development. Mr. Al-Ghadhban and Mr. Descalzi also discussed future opportunities and development investments that will further strengthen Eni’s relationship with the country.

At Zubair oil production has grown by over 100% since 2015 and a new 380 MW plant that will generate power for domestic consumption is in the final stages of construction.

Mr. Al-Ghadhban and Mr. Descalzi also discussed future opportunities and development investments that will further strengthen Eni’s relationship with the country. The Deputy Prime Minister for Energy Affair and Eni’s CEO also discussed the progress of social projects that are currently underway in the Basra Governorate in the areas of healthcare, education, access to energy and clean drinking water.

Finally, Eni’s CEO also highlighted potential synergies related to energy projects in Iraq, a strategic lever for the Country in maximizing its use of national natural resources.

Eni is one of the largest international upstream oil & gas players in the country, where it currently operates 475,000 barrels of oil equivalent per day (35,000 boed Eni equity).

Eni has been present in Iraq since 2009 through its subsidiary Eni Iraq B.V., and with the ramp up of the Zubair Field Development Project (Eni 41.56%, Kogas 23.75%, BOC 29.69%, State Partner 5%) the Company has become one of Iraq’s main operators in the oil sector.

(Source: Eni)

US-based oil services company Halliburton has today announced it has signed two contracts with Eni Iraq BV to provide integrated drilling services at Eni’s Zubair oilfield in Southern Iraq.

Under the contracts, Halliburton will mobilize four to six rigs to drill development wells over the next two years.

Mahmoud El-Kady, vice president of the Iraq Area for Halliburton, said:

“We are pleased to be awarded this work and the opportunity to collaborate with Eni to engineer solutions for the development of Zubair.

“We have provided a wide array of drilling services to Eni since 2011 and signing these contracts are a testimony to our continuous commitment to safety and superior service quality.

(Source: Halliburton)

The oil minister of Iraq, Jabbar Ali Hussein Luaibi, and the Chief Executive Officer of Eni, Claudio Descalzi (pictured) met in Baghdad on Saturday.

During the meeting Eni’s CEO had the opportunity to outline the Company’s current activities in the country in light of the recent achievements of the Zubair field development, where the production has grown by over 100% since 2015.

The project, carried out by Eni with Basra Oil Company (BOC), has marked the fast track development of one of the largest producing oil fields in the Southern Iraq region of Basra.

Furthermore Claudio Descalzi updated the Minister Luaibi on a new 380 MW power plant which is in the final stages of construction. The plant will generate power for Zubair field and for domestic consumption in Basra Governorate.

Claudio Descalzi and Minister Jabbar discussed additional increase of Zubair production, future opportunities and development investments that would further strengthen Eni’s relationship with the country. Eni’s CEO has in fact confirmed Eni commitment in Upstream sector in Iraq and its support to the country through several initiatives.

Eni’s CEO and the Minister of Oil discussed among other things on the progress of social projects that are currently underway in the Basra Governorate in the areas of healthcare, education, through the construction among other things of one secondary school in Basra for 900 students and refurbishment of existing ones targeting total of 77 schools within the next 4 years, access to energy, through the expansion of the power plant, clean drinking water, through the overhaul of drinking water treatment plants, and new initiatives in agriculture sector which will allow creation of jobs and the development of local economy.

Finally, Eni’s CEO highlighted potential synergies related to energy projects in Iraq, a strategic lever for the Country in maximizing its use of national natural resources through project integration within the entire energy chain and double country oil production within limited time.

Eni has been present in Iraq since 2009, where it operates through its subsidiary Eni Iraq B.V., and with the ramp up of the Zubair Field Development Project (Eni 41.56%, Kogas 23.75%, BOC 29.69%, Missan 5%) the Company has become one of Iraq’s main operators in the oil sector. Eni currently operates 475,000 barrels of oil equivalent per day in Iraq.

(Source: ENI)

By John Lee.

Italy’s Saipem has been awarded a contract by ExxonMobil Iraq Limited for the DS6 project for the debottlenecking of the West Qurna field, in the south east of Iraq.

Debottlenecking is a process that optimises a plant in order to increase its overall capacity.

The works will have a duration of 23 months and will mainly be executed in the Rumaila fabrication yard, owned by Saipem.

(Source: Saipem)

(Picture: Saipem chief executive, Stefano Cao)

By John Lee.

Reuters reports that Bain Capital Credit has been chosen for a 900-million-euro ($1.06 billion) deal to rescue the heavily-indebted Italian engineering firm Trevi.

Among Trevi’s current projects is the stabilisation of Iraq’s Mosul Dam.

More here from Reuters.

(Source: Reuters)

The National Iranian Drilling Company (NIDC) is planning to participate in neighboring Iraq‘s drilling tenders.

Speaking to reported on the sidelines of an oil show in Kish Island, on Tuesday, Sepehr Sepehri, NIDC managing director, said the company’s approach is to secure itself a toehold in global markets, adding NIDC is planning to participate in international drilling tenders in Iraq.

“We have plans to join drilling projects in neighboring countries and we have started correspondences with Iraq in this regard,” the official said.

Sepehri said the two country’s access to Arvand Free Zone, favorable crude oil production capacity in Iraq’s Basra and the good terms the two neighbors are on are among the advantages of working in Iraq.

He further said that NIDC will take part in three drilling tenders that Italy’s ENI is planning to hold in Iraq.

The NIDC official added that Oman is another market the company is seeing to gain a foothold in.

“We have indicated readiness to offer services to Oman, too, and will consider the matter in more depth during a visit by an Omani delegation to Iran within the next few weeks.”

Besides drilling operations, NIDC enjoys massive potentialities in offering drilling services, the CEO added.

“After Iraq and Oman, we are targeting operations in Qatar,” Sepehri added.

(Source: Shana)