Latest news with #Basra
Zawya
3 days ago
- Business
- Zawya
Iraq in advanced talks with Saudi's ACWA Power and UAE's Masdar for solar plants
Iraq's Ministry of Electricity announced on Thursday that it is close to finalising agreements with Saudi Arabia's ACWA Power and the UAE's Masdar to build solar power stations across the country. Speaking to the Iraqi News Agency (INA), ministry spokesperson Ahmed Musa said discussions are advancing with ACWA Power for a 1,000-megawatt (MW) solar power plant in Najafm and with Masdar to develop four solar power plants with a combined capacity of 1,000 MW. In March, Iraq started construction of its largest solar power project - the 1,000 MW Basra Sun. Musa said the talks are part of Iraq's broader strategy to diversify its energy sources and reduce dependency on imported gas, adding that the the OPEC member's power sector is currently facing a 4,000 MW deficit due to reduced gas imports from Iran, which resulted in the shutdown of several power generation units. Musa disclosed that 93 percent of the electricity interconnection project with GCCIA has been completed, and connections with Jordan and Turkey are already contributing to Iraq's grid. At the start of May, Iraq's Wasit province issued a tender for 3,000 MW of renewable energy projects. Prior to that, in April, the Iraqi government signed an agreement with US-based UGT Renewables for the development of a 3,000 MW solar power project coupled with a Battery Energy Storage System (BESS) providing 500 megawatt-hours (MWh). (Writing by Majda Muhsen; Editing by Anoop Menon)
Zawya
4 days ago
- Business
- Zawya
Wood secures c.$100mln of awards to reduce gas flaring in Iraq
Basra – Wood, a global leader in consulting and engineering, has been awarded a series of decarbonisation contracts with a value of c.$100m for flare gas reduction and carbon efficiency project solutions across the largest oil fields in Iraq. Wood will deliver brownfield engineering, procurement and construction (EPC) and modifications solutions to enhance operational efficiency and minimise environmental impacts, in support of Iraq's commitment to reduce gas flaring by 78% by the end of 2025. Wood has a decades-long track record of providing decarbonisation solutions for major operators in Iraq and has implemented the country's largest flare gas reduction programme to date. Ellis Renforth, President of Operations for Europe, Middle East and Africa said: 'We are working in partnership with our clients to achieve Iraq's energy ambitions and deliver a sustainable energy future for the country. Wood Iraq has extensive knowledge of our clients' infrastructure, operations and goals, enabling them to improve operational efficiency and reduce the impact of gas flaring while maintaining critical production.' The reimbursable contracts will be delivered by Wood's team in Iraq and the UAE. Wood will recruit 60 new employees to support the successful delivery of these projects. For further information contact:
Zawya
5 days ago
- Business
- Zawya
Iraq targets 12 GW renewable power in 2030
Iraq is ramping up solar projects to produce 12 gigawatts (GW) of power in 2030 to tackle a widening post-conflict electricity shortage, Iraq's Oil Minister said on Monday. To shun an expansion in the budget deficit, OPEC's second largest oil producer is paying in crude to most contractors who have been awarded solar projects over the past two years, including the French giant TotalEnergies, Hayan Abdul Ghani said. He told Iraq's Shafaq news agency that key oil facilities will soon be linked to solar sources as part of plans to cut fossil fuel reliance and expand clean energy. To finance the transition, the ministry is using a crude-for-infrastructure barter model, involving trading oil for solar project development without drawing on the federal budget. Abdul Ghani highlighted the 1 GW solar project in Basra by TotalEnergies, with 250 megawatts (MW) expected to go online by late 2025. 'With electricity demand rising, particularly in the south, the Oil Ministry is working with the Electricity Ministry on a national plan targeting 12 gigawatts of renewable energy by 2030,' the Minister said. He confirmed that Iraq's first solar power plant will be operational by year-end, framing emissions cuts as key to attracting investment, fostering innovation, and gaining access to global carbon markets. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Yahoo
7 days ago
- Business
- Yahoo
Iraq inks integrated energy deal with Geo-Jade
Iraq's oil ministry has formalised an agreement with China's Geo-Jade Petroleum and Basra Crescent, a local firm, to augment the Tuba oil field's capacity and develop a comprehensive set of downstream and power assets. This pact is reflective of Iraq's strategy to engage international partners in integrated energy projects. At the signing ceremony in Baghdad on 21 May, Oil Minister Hayan Abdulghani announced the South Basrah Integrated Energy Project's ambition to increase Tuba's production capacity from 20,000bpd to 100,000bpd. The initiative will also involve processing up to 50 million cubic feet per day of associated gas. The downstream elements of the project encompass a 200,000bpd refinery, a 620,000 tonnes per year (t/yr) petrochemical plant, and a 520,000 t/yr fertiliser facility. Additionally, the energy infrastructure will be bolstered by a 650MW thermal power plant and a 400MW solar plant, as detailed by Abdulghani. Geo-Jade Petroleum is set to channel approximately $848m into the South Basra integrated project, as per reports from Reuters. This agreement signifies Geo-Jade's successful bids in the nation's fifth and sixth licensing rounds. Despite holding several upstream assets in Iraq, Geo-Jade has yet to commence production on any. This deal comes on the heels of a similar multi-billion-dollar contract with TotalEnergies in 2023, which amalgamated gas processing, water treatment, and solar power with the Ratawi field's development. In February, BP solidified terms with the Government of Iraq to invest in the redevelopment of major oilfields in Kirkuk, spanning oil, gas, power, and water sectors, with prospects for additional exploration. Also, the Kurdistan Government's recent energy agreements with US firms HKN Energy and WesternZagros, valued at $110bn over their lifetime, have been declared "null and void" by Iraq's Oil Ministry. This development exacerbates the longstanding contention over regional resource governance and the ongoing tensions between Iraq and the semi-autonomous Kurdistan region. "Iraq inks integrated energy deal with Geo-Jade" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Free Malaysia Today
7 days ago
- Sport
- Free Malaysia Today
S. Korea look to feed off Son's Europa glory in World Cup qualifiers
Son Heung-min holds the Europa League trophy during a lap of honour after Spurs' final home game at Tottenham Hotspur stadium. (EPA Images pic) SEOUL : South Korea hope Son Heung-min's European success can rub off on the national side when the skipper leads them into crucial World Cup qualifiers next week. Fresh from lifting the Europa League trophy with Tottenham Hotspur, Son will captain a South Korea squad named Monday who need just a draw against Iraq in Basra on June 5 to reach the World Cup. Failing that, the Koreans will have another chance to clinch a spot in next year's showpiece in the USA, Canada and Mexico against Kuwait in Seoul five days later. South Korea coach Hong Myung-bo said he hoped to squeeze even more out of his captain before the end of the season after Son won his first major trophy after 10 years at Tottenham. 'He has always done so well for himself individually, and for him to be captain of the team that won such a big title is something we should be proud of,' Hong said of Tottenham's 1-0 win over Manchester United in the Europa League final in Bilbao last week. 'After a long season there is no reward quite like lifting a trophy at the end. 'Hopefully his victory will have some positive impact on the national team.' Bayern Munich defender Kim Min-jae was left out of the squad because of injury. South Korea top Asian qualifying Group B on 16 points with two rounds of matches to be played. Jordan are second on 13, Iraq third on 12 and Oman fourth on 10. The top two teams qualify for the World Cup, with the next two progressing into a further round of qualifying. Witness football history in Malaysia as Manchester United take on the Asean All-Stars – it's the clash you can't afford to miss. Book your seat now at before they're gone!
