15 July 2008 The Iraqi cabinet has decided to establish a new body to speed up the award of contracts for strategic projects, including in the oil sector, Iraqi Prime Minister Nouri al-Maliki told International Oil Daily in an interview in Baghdad Monday. It will invite companies directly to compete for and negotiate one type of yet-to-be-determined model contract, even if the long-awaited hydrocarbon law has still to be adopted,…
Tag: model contract
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…
Iraq Buys Favor With China on Al-Ahdab
27 March 2007 The Iraqi government decided to renegotiate an old production sharing contract which had been signed by China National Petroleum Corp. (CNPC) to develop the 90,000 barrel per day Al-Ahdab oil field with the former Iraqi regime “for political and legal reasons” rather than retender, a senior Iraqi government official told International Oil Daily late last week. CNPC officials traveled to Baghdad earlier this month for a first…