By John Lee.

Malaysia-based Wah Seong Corporation Berhad (WSC) has announced that its indirect wholly-owned subsidiary Wasco Engineering International Ltd (WEIL) has been awarded a contract by Basrah Gas Company (BGC) for the design, packaging and sale of gas compressor packages and associated plant and site facilities.

The contract is valued at $34.6 million.

The scope of work of the contract involves provision of gas compressors and process equipment such as tri-ethylene glycol (TEG) unit, fuel gas conditioning skid, pipe racks, slug catcher, knock out drum, vent stack, site facilities such as office and workshop containers, lighting, safety equipment, fire and gas detectors, power generators and air compressors.

The activities undertaken will include engineering, detail design, procurement and packaging of the above process equipment. The activity is expected to commence in March 2018, and to be completed by end of 2018.

The contract is for the provision of engineering, design, supply and fabrication services which are within the business scope of the Engineering Division of the WSC Group and the risks are the normal operational risks associated with the said business. The WSC Group has previously supplied similar packages to the same customer in Iraq.

The contract is expected to contribute positively to the earnings of WSC Group over the contract period. The contract is project specific and is not renewable.

(Source: WSC)

By John Lee.

The United Nations has advertised new positions in Iraq:

(Source: UN)

By John Lee.

The United Nations has advertised new positions in Iraqi Kurdistan:

(Source: UN)

Hence, there was a sharp deterioration of the energy balance, which resulted in a deficit of 4 billion dinars in relation to the 39.9% increase in imports … This situation significantly impacted the level of foreign currency reserves and consequently exerted strong pressure on the dinar exchange rate.

US presence and last details of stay in Iraq


BAGHDAD (Reuters) – With the announcement by the American side of increasing the number of its troops in Iraq, there are still many doubts about this presence, which was rejected by several factions and the Iraqi parliament, where the latter worked to authorize Prime Minister Haider Abadi to schedule the exit of foreign troops from Iraq , Urgently before the elections.

A member of the coalition of state law, MP Mohammed Chihod said in a press statement, "The parliament said his speech on the American presence and put the ball in the government stadium, led by the commander of the armed forces Haider Abadi," stressing that "the latter is obliged to remove foreign forces before the end of the government and the elections "He said.

"The United States of America has openly declared its regret to leave Iraq in 2011, which makes it take advantage of the war to urge the survival of Iraq."

"The US presence in Iraq will face fierce Islamic resistance if it does not comply with the will of the Iraqi people to leave the country," said Hassan Salem, a member of the parliamentary security and defense committee.

"The armed Islamic factions, in all their names, reject the presence of US forces and establish bases in Iraq, where they will return to confront that presence and its radicalization," Salem said.

On the other hand, called for the National Alliance MP, Rasool Radi in a press statement, to calm and dialogue and use the language of negotiation with the US side in order to set a timetable for the removal of their forces.

He added that "the parliament put the issue of removing foreign forces before the central government, which in turn announced a close timetable for the exit of these forces, indicating the need for advisers and expertise in the country under the strategic cooperation agreement between Iraq and the United States of America."

Radhi warned that "the use of force and being dragged behind Western targets in igniting a new war in Iraq between the factions of the Islamic resistance and US forces," stressing that "this will harm Iraq and its people and enter into a new conflict long-term."

The Security and Defense Committee earlier confirmed the presence of more than 5,000 US troops in Iraq, which reveals the falsity and allegation of the US administration on the presence of the elements mentioned for training and counseling in the Iraqi camps.…B1%D8%A7%D9%82

The launch of the first installment of salaries through the "master card" in Iraq

The media office of the Rasheed Bank confirmed the launch of the first batch of salaries through the MasterCard card, one of the electronic payment tools, pointing out that the card is drawn from inside and outside Iraq.

"Al Rasheed Bank launched the first installment of salaries through the MasterCard International Card (Nakheel), one of the electronic payment tools," the office said in a statement.

He added that the bank called on all departments and ministries to speed up the settlement of the salaries of their employees and obtaining the card to enable the bank to give them advances and loans, knowing that the card helps the citizen to save and protect the circulation of counterfeit currency and the composition and maintain salaries of thefts suffered during transport.

He explained that "the card is withdrawn from inside and outside Iraq and the Bank recently distributed a number of ATMs in Baghdad and the provinces, knowing that the commission of the card (10) thousands of dinars, three years."

In a phone call: Abadi asks the US Vice President to reduce US advisers

The Prime Minister Haider al-Abbadi received a telephone call from US Vice President Mike Bens on Friday morning, and called Abadi during the call to a penny to reduce the number of American advisers in Iraq.

"US Vice President Mike Bens made a phone call to Prime Minister Haider al-Abadi, where he praised the victory of Iraq on a supporter," a statement issued by the office of the media chief said.

"The prime minister stressed the plan that was put in place to reduce the number of American advisers and trainers in Iraq after an overwhelming victory over the terrorist and that the presence of these trainers is limited to supporting Iraqi military and security institutions with international expertise in training and technical support," the statement said.

While Pence Park "the steps of the government in reopening Sulaymaniyah and Erbil airports for international flights and confirmed his country’s support for the unity and sovereignty of Iraq."

For his part, Abadi stressed his keenness to consolidate democracy in Iraq and strengthen the institutions of the state and the importance of continuing the citizenship project to overcome sectarian and racist policies, praising the trends of Iraqi youth who aspire to hold free and fair elections to come out a new Iraq.…7%D9%84%D8%B1/

DNO ASA, the Norwegian oil and gas operator, today released its 2017 Annual Report and Accounts together with its 2017 Annual Statement of Reserves and Resources and reported improvements across key financial and operational metrics.

Annual 2017 revenues climbed to USD 347 million, up 72 percent from year earlier levels. Operating profit totaled USD 521 million, up from USD 6 million in 2016, with the recognition as other income of USD 556 million under the August 2017 Kurdistan Receivables Settlement Agreement.

Excluding the settlement agreement and non-cash impairments, operating profit in 2017 more than doubled to USD 72 million. And notwithstanding a doubling of operational spend to USD 259 million, the Company ended the year with a cash balance of USD 430 million.

Company Working Interest (CWI) production increased to 73,700 barrels of oil equivalent per day (boepd) from 69,200 boepd in 2016 (operated production in 2017 was 113,500 boepd, up from 112,600 boepd in 2016). Lifting costs last year averaged USD 3.6 per barrel of oil equivalent.

Iraqi Kurdistan

DNO’s production continues to be driven by the Tawke field in Kurdistan, where output in 2017 averaged 105,500 barrels of oil per day (bopd).

The adjacent Peshkabir field, brought on stream midyear, contributed another 3,600 bopd to bring total Tawke license production to 109,100 bopd in 2017. The Company plans to bolster production from the license with 10 new wells in 2018.

We are committed this year to continue to outdrill, outproduce and outperform all other international companies in Kurdistan – combined,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani.

At yearend 2017, DNO’s CWI 1P reserves climbed to 240 million barrels of oil equivalent (MMboe) from 219 MMboe at yearend 2016, after adjusting for production during the year, technical revisions and an increase in DNO’s operated stake in the Tawke license from 55 percent to 75 percent.

On a 2P basis, DNO’s CWI reserves stood at 384 MMboe (up from 368 MMboe) and on a 3P basis, DNO’s CWI reserves stood at 666 MMboe (up from 521 MMboe). DNO’s yearend 2017 CWI contingent resources (2C) were estimated at 99 MMboe, down from 161 MMboe at yearend 2016, following reclassification of certain contingent resources to reserves.

On a gross basis, at yearend 2017, 1P reserves at the Tawke license containing the Tawke and Peshkabir fields totaled 348 MMboe (353 MMboe at yearend 2016) after adjusting for production of 40 MMboe during the year and technical revisions; 2P reserves totaled 513 MMboe (536 MMboe at yearend 2016); 3P reserves totaled 880 MMboe (725 MMboe at yearend 2016) and 2C resources totaled 91 MMboe (211 MMboe at yearend 2016) following reclassification.

International petroleum consultants DeGolyer and MacNaughton carried out the annual independent assessment of the Tawke and Peshkabir fields. DNO internally evaluated the remaining assets.

(Source: DNO)