Oil and Gas News Iraq

• Forecasting Iraq’s oil and gas capital spending – More than $450bn could be spent over the next two decades, earning $6 trillion in revenues.
• Hungary’s Mol Nyrt., has stated that production at the Shaikan Block Field Development in the Kurdistan region of Iraq was close after the firm got approval from the regional government.
• Daewoo Engineering and Construction has been awarded an EPC contract to upgrade the Akkas gas field in western Iraq according to Dow Jones. The South Korean company is said to have completed the project worth US$708.6 million within 46 months, the newswire said citing a statement released by Iraq’s cabinet.