28 October 2008 The Iraqi oil ministry is gearing up to send out the initial tender protocol and data packages for the eight oil and gas fields included in its landmark first bid round by the end of this week, and expects international oil companies to pay participation fees for the fields on which they choose to bid by Dec. 31, ministry sources say. Despite the accelerated process, questions persist…
Tag: Akkaz
Iraq Starts Countdown for Contract Awards
14 October 2008 Iraq’s oil ministry on Monday launched a competition among 35 international oil companies for six of Iraq’s most prized oil fields and two undeveloped gas fields under 20-year service contracts, which Iraqi Oil Minister Hussein al-Shahristani said he expects to be “finalized and presented to the Iraqi cabinet for ratification before the end of June.” Prequalified companies for Iraq’s first bid round, including all the majors as…
Iraq: Splits Dog Oil Law
9 March 2007 Having waited so long for a law offering the framework necessary to regularize and legitimize future investments in Iraq’s vast oil resources, international firms itching to get their hands on the biggest Mideast opportunity in decades now find consensus — perhaps the most important ingredient of all — lacking. Iraqis are divided over the legitimacy of signing contracts while the country is wracked by chaos, and some…