2nd Bid Round: The Results – 11 December 2009

– MAJNOON OIL FIELD:

THE BIDDERS:

1. Royal Dutch Shell (60%) – Petronas (40%)

FEE BID: $1.39    PLATEAU: 1,800,000 b/d     SCORE:100

2. Total (57%) – CNPC (43%)

FEE BID $1.75    PLATEAU: 1,405,000 b/d       SCORE: 79

Ministry Max Remuneration Fee: not revealed

Majnoon contract awarded to SHELL

– HALFAYA OIL FIELD:

THE BIDDERS:

1. ONGC (50%) – TPAO (30%) Oil India (20%)

FEE BID: $1.76      PLATEAU: 550,000     SCORE: 82

2. ENI (30%) Sonangol (15%) CNOOC (15%) Kogas (20%) Oxy (20%)

FEE BID $12.90     PLATEAU: 400,000     SCORE 22

3. STATOIL (50%) Lukoil (50%)

FEE BID $1.53       PLATEAU 600,000       SCORE 93

4. CNPC (50%) Petronas (25%) Total (25%)

FEE BID 1.40          PLATEAU 535,000       SCORE 98

Ministry Max Remuneration FEE: Not revealed

Halfaya field awarded to CNPC consortium

EAST BAGHDAD FIELD:

THE BIDDERS: NONE

– EASTERN FIELDS:

THE BIDDERS: NONE

– QAIYARAH FIELD

THE BIDDERS:

1. SONANGOL (100%)

BIDDING FEE $12.5      PLATEAU: 120,000 b/d

Ministry max fee:  $5

Sonangol announced Dec.12 it accepts the ministry’s maximum remuneration fee of $5/bbl.

Qaiyarah contract awarded to Sonangol

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