The Rush for Oil: Iraq’s Oil Capacity Potential and Regional Geopolitics – MEES Op-Ed Nov.9-2009
Tag: Zubair
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…
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…
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…