The most recent bid round launched this month for the three gas fields of Akkas, Mansouriah and Siba, promises to be challenging for both sides; the Iraqi oil ministry and the international oil companies, not least because it involves a third party: the electricity sector. The non-associated gas to be produced from the three fields, estimated collectively at a minimum of 700 MMcf/d to 900 MMcf/d will be allocated as…
Tag: bid round
Reversing A Trend
Basrah – On the face of it and just listening to Iraqi oil officials describing their new ventures in Rumaila, it would appear as if BP is revolutionizing the way oil is produced in Iraq’s biggest and oldest fields. In reality, much of the work underway aims at reversing the trend of continuous malpractice imposed by years of war and sanctions. This covers all aspects of the production process from…
Mr. Five Percent
I was privileged two years ago to be invited, as an observer, to attend a roundtable in Paris where about 30 Iraqis from inside and outside of Iraq, with experience in government and the oil sector, convened over three days to discuss in a candid and open manner how to define an oil policy for Iraq. To my surprise – and the shock of everyone else in the room –…
The Results
If you are trying to figure out who won and who lost in Iraq’s first bid round, consider this: 22 companies have participated in the licensing round making offers for six oil fields and one gas field, as leaders or members of consortia. One gas field, Mansuriya had no takers. China’s CNPC was the most aggressive taking part in 5 offerings followed by Malaysia’s Petronas which targeted 4. Oil majors…