9 November 2008 In response to the controversy over whether the Iraqi oil ministry has the right to award oil field development contracts under its first bid round, former Oil Minister Thamir Ghadhban argued that the ministry relies on a 1987 law that placed the powers to sign contracts into the hands of the oil minister and on the fact that the 2005 Iraqi constitution does not require the legislature’s…
Tag: tender protocol
Iraq: Contract Labyrinth
19 December 2008 Iraq’s latest draft model contract for its first postwar bid round, recently made available to participating firms, has failed to bridge the gap between the oil ministry and international oil companies, analysis of the latest text reveals. The two sides may struggle to narrow their differences in the short time frame announced by Baghdad, which aims to publish the final technical service contract by April 2009 and…
Iraq to Send Out Bid Round Packages This Week
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…
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…