12 November 2008 State China National Petroleum Corp. (CNPC) is set to start work immediately on its 20-year service contract to develop Al-Ahdab oil field in central Iraq following a formal signing Monday in Baghdad, making it the first company to break ground in Iraq’s oil sector since the 2003 US-led war there. The deal was signed by CNPC head Jiang Jiemin and the director general of State Oil Marketing…
Tag: Ahdab
China, Iraq Offer Concessions to Seal Oil Deal
29 August 2008 China National Petroleum Corp.’s (CNPC) new 20-year service contract to develop Iraq’s Al-Ahdab oil field — the first oil deal signed since Saddam Hussein’s overthrow in 2003 — preserves some of the choicer elements of its 1997 production sharing agreement (PSA). But both sides offered concessions in a bid to bring the negotiations launched last year to a conclusion, Iraqi sources involved in the talks told International…
ONGC, Pertamina Renegotiate Iraqi Deals
25 April 2008 India’s state Oil and Natural Gas Corp. (ONGC) and Indonesia’s Pertamina recently opened talks with Iraq’s oil ministry about renegotiating exploration contracts signed with the Baath regime before the war in 2003, Iraqi officials told International Oil Daily Thursday. The two companies met with Iraqi ministry officials in Amman last week to adapt the deals to the new model contracts — called Service Exploration and Production Contracts…
Iraq: China’s Breakthrough
29 August 2008 China this week became the first country since the overthrow of Saddam Hussein to clinch an oil deal with Iraq, by reviving the first of a series of contracts signed by the previous Iraqi regime under new terms dictated by new realities. The service contract for development of the Al-Ahdab field, which includes a mix of old production sharing elements and new service contract terms, sets a…