2nd Bid Round Results

In response to Mr. I Chalabi’s comments, with all due respect I disagree with his remarks for the following reasons:

There is certainly warranted rush to award all the fields included in both rounds, and more to come; a wider perspective on the role of oil in Iraq’s future is being lost. After years of misrule and total bad management coupled with the effects of sanctions, and the post-2003 violence, Iraq has been left as the poorest Arab country. No-one would deny Iraq’s urgent need for investment.The country needs help from foreign firms to boost production because some of its major oil fields suffer from old age, previous bad reservoir management and need modern technology to check their deterioration. The service…

2nd bid round . Abdul Zahra . Bai Hassan . capacity . Ceyhan . Chalabi . ConocoPhillips . export outlets . IPSA . Kirkuk . Law 97 . oil law . parliament . results . service contracts . Shell . Tareq Harb The Forum

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. For example, the Kirkuk field was producing 320,000 b/d and has now reached 400,000 b/d. In Bai Hassan, production went up from 150,000 b/d in mid-2008 to 175,000 b/d after we started water injection for the first time in this field about eight months ago and drilled three new wells. Jambour field…

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Ajeel . al-Obeidi . Bai Hassan . Basrah . BP . ConocoPhillips . constitution . dumping . East Baghdad . Ein Zalah . Erbil . exports . Himrin . IDC . Jambour . Japex . Kar Group . Khabbaz . Khurmala . Kirkuk . KRG . kurds . NOC . pipelines . Rumaila The Interview

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 Exxon Mobil and Royal Dutch Shell aimed for 3 each, and so did Turkey’s TPAO and China’s Sinopec. BP, ConocoPhillips as well as China’s CNOOC and Korea’s Kogas targeted 2 each. The remaining 12 companies participated in bids for one field each.

The Lowest remuneration fee bid for an oil field……

1st licensing round results . Akkas . awards . Bai Hassan . bid round . BP . CNOOC . CNPC . ConocoPhillips . consortium . ENI . Exxon Mobil . Gazprom . Japex . Kirkuk . Kogas . Lukoil . Maersk . Mansuriya . Missan . ONGC . Oxy . Peetronas . remuneration fee . Repsol . Rumaila . Shell . Sinochem . Sinopec . Statoil . TPAO . West Qurna . Zubair The View from Baghdad

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 over the ministry’s ability to award 20-year service contracts involving billions of dollars in investment without endorsement by parliament. Oil Minister Hussein al-Shahristani has said contracts will be ratified by the cabinet, but oil firms may require the added guarantees provided by the legislature when the contracts are voted into law.

Adding to…

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1st bid round . Akkaz . Bai Hassan . bidding . bidding parameters . consortium . data packages . gas fields . Kirkuk . Mansouriyah . minimum work obligation . Missan . model contract . non-operators . oil fields . operators . Rumaila . tender protocol . West Qurna . Zubair 2008