Issam al-Chalabi writes: “Iraq is a landlocked country with a narrow opening to the Gulf. That by itself has been the cause of many conflicts with neighbouring Iran and Kuwait, meaning that, in addition to utilizing its Gulf outlet, Iraq must send oil through other neighboring countries to provide additional and alternative export outlets. This again has been a source of political conflicts and confrontations ever since the commercial discovery…
Tag: 1st bid round
Baghdad VS KRG
Peter Wells writes: “With the successful conclusion of the First Bid Round, the Ministry of Oil will have achieved the timely, open, clean and transparent award of several major oil field development projects to reputable and capable operating companies – ExxonMobil, ENI and BP – on very advantageous terms for Iraq. The three projects awarded to date alone represent capital investment of more than $50bn and incremental production capacity by…
Early Bonanza
There is a bonanza for international oil companies who managed to make an early entry into Iraq. Operators like BP, Eni, Exxon Mobil – and to a certain extent CNPC which managed to convert its 1997 production sharing agreement for the development of Al-Ahdab field into a service contract last year – will have first call on the limited infrastructure capacity to absorb the new crude they will start pumping…