Posts Tagged ‘risk’
6 November 2006
Three-and-a-half years after the toppling of Saddam Hussein’s regime in Iraq, some companies that had high hopes of business opportunities are shutting up shop after suffering heavy losses.
US engineering giant Bechtel, which carried out $2.3 billion of work for the US in Iraq since April 2003, said last week that it was leaving the war-torn country after a spate of violence that killed 52 workers.
Bechtel was tasked with rebuilding roads and bridges, expanding the power grid, cleaning up water supply and installing communication lines. The …
25 February 2000
Iraq has finally started negotiations on its first modified buyback agreements, offering contracts with an average term of 12-15 years to a number of Asian companies – including Malaysia’s Petronas, which is discussing a deal for the 200,000 b/d Ratawi field.
Iraq believes buyback contracts may prove easier to implement than production-sharing contracts (PSCs) once United Nations sanctions prohibiting investment are lifted. “We want something we can really implement and we think the old type of contracts [PSCs] are more complicated in the present circumstances,” says an …