Gulf Keystone Petroleum Share Discussion Threads

[steephill cove] 18/4/2024 18:59

Comprehensive list of MOUs signed (See 1-14).

Iraq signs MoUs with U.S. companies in electricity, oil, and pharmaceuticals.

2024-04-18 08:58

Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani has signed memorandums of understanding (MoUs) with major American companies to implement projects across various sectors including electricity, oil, pharmaceuticals, and the economy.

During a meeting with CEOs and representatives of prominent American companies in Washington D.C., hosted by the U.S. Chamber of Commerce, Al-Sudani addressed inquiries related to Iraqs investment environment and the government's facilitations to the private sector, according to the PMs media office.

During the meeting, Prime Minister Al-Sudani oversaw signing several Memorandums of Understanding between the Iraqi Ministries of Electricity and Oil, the Iraq Development Fund, and various American corporations. MoUs were also signed by the Iraqi private sector companies and American companies in the fields of energy and pharmaceutical manufacturing.

In his address, the Prime Minister highlighted the openness of Iraq's investment sector to attract reputable global companies to participate in the economic boom and infrastructure projects underway in Iraq. He also highlighted the comprehensive financial, banking, and administrative reforms initiated by the government, which has achieved significant progress within the past eighteen months, as reported by his media office.

Key points from Al-Sudani's speech during the signing ceremony with major American companies include:

-Agreement on the necessity to develop bilateral relations across various sectors.

-Enhancement of the relationship to invigorate the private sector and support U.S. companies in Iraq.

-Iraq's commitment to maintaining stability amid regional challenges.

-Significant progress in economic reforms and execution of major projects.

-Introduction of a Bill addressing challenges facing the private sector.

-Ongoing efforts to achieve full compliance with international standards.

-The implementation of a treasury single account and an integrated banking system, along with updated tax collection, customs reforms, and the correct redirection of subsidies, mark significant accomplishments.

-Supporting the private sector remains a key strategy, with sovereign guarantees being provided for the first time to back projects.

-The Iraq Development Fund aims to involve the private sector, address bureaucracy, and streamline processes for companies.

-Reforms in the tax system and other administrative areas related to company branch registration have been undertaken to foster an attractive investment environment.

-The current trade volume between Iraq and the United States is below $10 billion.

-A comprehensive vision for optimal oil and gas investment has been established, with the sixth licensing round focusing on natural gas fields being offered for the first time.

-Plans are in place to achieve gas self-sufficiency and end gas imports within 3-5 years.

-Integrated projects have been initiated in 6-8 fields across provinces, following a model that develops oil, utilizes associated gas, and establishes electric stations and petrochemical industries on the same site.

-Iraq is embarking on creating a fixed platform for receiving liquefied natural gas for the first time, providing an opportunity for American and other international companies.

-A contract has been signed with KBR to conduct a study for the fixed platform, aimed at future gas reception and export.

The media offices statement clarified that the government MoUs that were signed are:

1. Ministry of Electricity and General Electric (GE): MoU to develop the energy sector.

2. Ministry of Oil and Honeywell: Partnership agreement to develop strategic plans for oil fields and associated gas.

3. Ministry of Oil and General Electric: Agreement to enhance oil field and associated gas development.

4. Iraq Development Fund and MACK: Memorandum for the manufacture of specialized vehicles.

Private Sector Memorandums with American Companies:

1. Baxter International: Cooperation in the field of dialysis supplies.

2. KBR: Development of oil fields.

3. KBR: Processing raw gas into liquefied and associated gas.

4. US International Development Finance Corporation with National Bank of Iraq NBI: To enhance financial cooperation.

5. TransAtlantic Petroleum: Oil field management and development.

6. Honeywell: Development of associated gas fields and ending gas flaring.

7. Honeywell: Development, automation, and remote-control services.

8. Baker Hughes: Implementation of smart solutions to stop gas flaring and oil field maintenance.

9. Emerson: Technology and automation in oil fields.

10. GE: Support for the oil industry.

11. ARC Energy: Solutions for associated gas processing.

12. Emerson: Energy development and equipment provision.

13. GE: Supplying equipment for processing associated gas in power generation.

14. Honeywell: Oil field development, maintenance, and stopping gas flaring.

Noteworthy, Al-Sudani arrived in Washington on Sunday on an official visit, leading a high-ranking government and parliamentary delegation. It is his first visit to the United States since assuming office in October 2022,

The Prime Minister met with President Joe Biden, Secretary of State Anthony Blinken, the Deputy Secretary of the Treasury Wally Adeyemo, Stellar Energy's CEO Peter Gibson, Czech Prime Minister Peter Fiala, the Iraqi community, and others.

[theythinkitsallover] 18/4/2024 18:58

In an interview with al-Hurra TV, the Iraqi Oil Minister stated:

- The cost of oil production and transportation in the Kurdistan Region is $26 per barrel, while in Iraq, it is less than $7.

- Three days ago, we requested the KRG to provide the oil contracts, but they have not responded yet. The request for contracts is to comply with the budget law and Iraqi legislation.

- A contract has been signed with Crescent to import 100 million cubic meters of gas from the Kormor field in Chamchamal (in south Sulaimani province). However, there is a dispute between the company and the KRG over the quantity. Nonetheless, he confirmed that the pipeline, transmission points, and all other contract details have been finalized, including a fixed price that is 30% lower than the cost of imported Iranian gas.

[steephill cove] 18/4/2024 18:46

HKN Energy Ross Perot Jnr quote in black & white where he talked about Kurdistan wanting to be 51st state of USA & where he also mentioned the Permian. GKP quotes too from John Harris.

[shortsqueezer] 18/4/2024 18:41

All the world's a stage .....

[steephill cove] 18/4/2024 18:40

Iraq & USA

Clearly now strategically working together hand in hand to develop & improve Iraqs fortunes on the International stage,

Kurdistan USAs 51st state, (remember that quote by HKN Energys Ross Perot Jnr) will benefit & the USA will ensure that is the case.

Iran has no choice but to calm down, because the USA will become its next door neighbour.

[steephill cove] 18/4/2024 18:19

MOUs Signed

ARC Energy

Solution Provider

Upstream
Midstream
Downstream

[highlander7] 18/4/2024 18:14

You dont just suddenly appear in the USA ( or anywhere else ) and start signing MOU's willy nilly . This must have been in the planning for a while. They have to be negotiated.

If I was suspicious before I am double that now. Something is up alright.

IMO

[steephill cove] 18/4/2024 18:13

Remember this which was announced in South East Turkey just over a year ago not far from the Turkey/Kurdistan border? 😉

[bigdog5] 18/4/2024 18:13

They are steepy but what has that got to do with a few barrels of sludge?

There's more than enough oil in the States which they can be involved with, its safer, they get paid, they know what the terms and conditions are, they know where the oil goes and there's no sanctions against those that own a pipe!!

Whereas, that can't be said of the Land of delusion innit:-)

Just saying like.

I note that your Express to nowhere is still having problems getting out of the sidings after 8 years, too much BS on the track?

[steephill cove] 18/4/2024 18:05

MOUs signed

Transatlantic Petroleum

Strategic ✅

They are currently operating in 150,000+ acres of territory in South East Turkey 🇹🇷 which borders Kurdistan ✅

[luckyclicker] 18/4/2024 18:03

The Iraqi Oil Minister says that the only thing left to do is to agree on the cost of production and transportation of Kurdistan oil. Regarding natural gas, he said Kurdistan gas is 30% cheaper than imported from Iran. We are ready to produce and immediately export [the Kurdistan Region's] oil, which will benefit the Kurdistan Region, oil companies and the Iraqi state," Iraqi Oil Minister Hayan Abdul Ghani told US television channel Al-Hurra. As we have been told from the Kurdistan Region, the cost of oil production and transportation is $26 a barrel, while in our country it is not $7," Abdul Ghani said.https://www.rudaw.net/sorani/business/180420243

[steephill cove] 18/4/2024 17:58

MOUs Signed

GE (S&P 100)
Honeywell (S&P 100 & Nasdaq 100)
Emerson (S&P 100)
Baker Hughes (Nasdaq 100 & S&P 500)
KBR (S&P 400)

[highlander7] 18/4/2024 17:57

Such memoranda are most often seen in international treaty negotiations but also may be used in high-stakes business dealings.

[gkpbanggone] 18/4/2024 17:30

Mou very similar to sales implementation agreement that #gkp probably signed some time ago.

[steephill cove] 18/4/2024 17:30

Big names there #702754 👍

General Electric (GE) (Founders Thomas Edison & J P Morgan) are a huge hitter 💪

[highlander7] 18/4/2024 17:08

What Is a Memorandum of Understanding (MOU)?

A memorandum of understanding is an agreement between two or more parties outlined in a formal document. It is not necessarily legally binding, which depends on the signatories' intent and the language in the agreement, but signals the willingness of the parties to move forward with a contract.

The MOU can be seen as the starting point for negotiations as it defines the scope and purpose of the talks. Such memoranda are most often seen in international treaty negotiations but also may be used in high-stakes business dealings such as merger talks.

[petebreeze37] 18/4/2024 16:40

Lets hope so, do the middle east have impasses', It looks there is one arriving if nothing happens.

[highlander7] 18/4/2024 16:03

Looks like they plan on being busy and with US Companies.

[highlander7] 18/4/2024 15:58

Iraqi Business News


18th April 2024 in Iraq Industry & Trade News
By John Lee.

During his visit to Washington DC this week, Iraqi Prime Minister Mohammed Shia Al-Sudani, presided over the signing of number of Memoranda of Understanding (MoU's) with American companies:

Government Memoranda of Understanding:

Memorandum of Understanding between the Ministry of Electricity and General Electric (GE) for the development of the energy sector.
Memorandum of Understanding between the Ministry of Oil and Honeywell for a partnership in developing strategic plans for oil and associated gas fields.
Memorandum of Understanding between the Ministry of Oil and General Electric for the development of oil and associated gas fields.
Private Sector Memoranda of Understanding with U.S. Companies:
Memorandum of Understanding with American company KBR for oil field development.
Memorandum of Understanding with KBR for primary gas processing and conversion to natural gas liquids and associated gas.
Agreement with TransAtlantic Petroleum for oil field development and management.
Memorandum of Understanding with Honeywell for the development of associated gas fields and cessation of gas flaring.
Memorandum of Understanding with Baker Hughes for the use of smart solutions to stop gas flaring, oil field development, and maintenance.
Memorandum of Understanding with Emerson for technology and automation in oil fields.
Memorandum of Understanding with GE for supporting the oil industry.
Memorandum of Understanding with ARC Energy for associated gas manufacturing.
Memorandum of Understanding with GE for providing equipment for associated gas processing in power generation.
Agreement with Honeywell for oil field development, maintenance, and cessation of gas flaring.

(Source: Media Office of the Prime Minister)

[gkpbanggone] 18/4/2024 15:38

Takeover valuations https://x.com/chicagojack5/status/1780929628112036209?s=61&t=EEAJRmerpfLiAmForyb8Dw

[bigdog5] 18/4/2024 15:08

No delusional moron, I've never ever made a recommendation to buy or sell.

I still believe that if and when any pipe takes oil through it the SP's of Epicure members will increase materially.

However, my caveats being,

how much if any of the sludge will be going through any pipe,
how penal the new terms will be, sludge and quality oil different values,
will most/all of the sludge be only for the local market.

Those three points would have a huge impact on the share price after the initial euphoria from you clowns when its realised by the Market that revenue is likely to be materially lower and thus affects any chances of progress and divis.

And the cross dresser won't even be able to afford her frocks from Primark!!

[0ili0] 18/4/2024 13:49

"Has the sludge got Uranium and Diamonds in it?"

🤔... nothing surprises at the mighty Shaikan. 🤞

[pittcock] 18/4/2024 13:18

It is over for you doggy. You lost.

[furenstaurus] 18/4/2024 13:08

Takeover valuations https://x.com/chicagojack5/status/1780929628112036209?s=61&t=EEAJRmerpfLiAmForyb8Dw