Once again, the results of Iraq’s first bid round proved that access to Mideast oil comes at a premium to international oil companies. Call it an entry fee for securing a foot in this vast oil hub. The prize is the giant Rumaila fields which despite producing since 1954 for South Rumaila and 1972 for its northern extension, still carry a huge potential but not without challenges. Oil in place…
Tag: reserves
2nd Licensing Round-Factbox
(Click Headline To Open All Documents) Minister’s Speech Istanbul Aug.25, 2009 Review Of Technical Service Contract-Abdul Mahdi al-Ameedi List of 2nd Licensing Round Prequalified Companies – Final 2nd Licensing Round – Fields Map 2nd Licensing Round – Timeline 2nd Licensing Round – Operator Qualifications 2nd Licensing Round – Participation Fees 2nd Licensing Round – Consortia Rules 2nd Licensing Round – Bidding Parameters 2nd Licensing Round – Award Restrictions 2nd Licensing…
Iraq Watch – The Need for Clarity
17 October 2008 Iraq finally unveiled the terms of its big upstream opening. International oil companies now realize that to win a 20-year service contract to rehabilitate and redevelop some of Iraq’s giant oil fields, they need to offer it high production targets at the lowest cost. For committing to spend money on rehabilitation of infrastructure and drilling of wells as well as a new reassessment of recoverable reserves in…
Iraq Builds Modern Database After Sanctions, Chaos
7 July 2005 Regardless of its official name, Iraq Oil Exploration Co. (IOEC) has done little in the way of exploration for the past 15 years — and is unlikely to start exploring the country’s vast areas anytime soon, in the absence of seismic equipment and trained staff. However, since the collapse of the Baath regime in 2003, the company has been focusing on building a modern National Data Center…