The Rush for Oil: Iraq’s Oil Capacity Potential and Regional Geopolitics – MEES Op-Ed Nov.9-2009
Tag: Rumaila
First Bid Round Revisited
Lukoil’s Vagit Alekperov said his company has now changed its mind on West Qurna -1 oil field following a detailed analysis and is now ready to follow in the footsteps of BP/CNPC and sign up to develop the field for a $1.9/bbl remuneration fee, the maximum fee the Iraqi oil ministry was willing to offer oil companies when the first licensing round bids were opened on June 30. Lukoil is…
Mana’a Al-Obeidi
In an interview in his office in Kirkuk (North Iraq) late August, Manaa al-Obeidi, director general of North Oil Co (NOC) talks to Ruba Husari, editor of Iraq Oil Forum, about the state of the northern oil fields and NOC plans: Q: What is the state of the producing fields in northern Iraq? A: We have witnessed a relative increase in output from producing fields in the last 18 months….
The BP Prize
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…