Posts Tagged ‘exploration’
Halfaya oil field in Missan province is set to become the second green field to add significant production, after Ahdab, since Iraq’s oil ministry started awarding service contracts to international oil companies.
A ceremony to celebrate the first commercial production from Halfaya field at a rate of 70,000 barrels per day, is set for July, the director general of Missan Oil Co (MOC) Ali Muarij tells me. With this new output, which will be pumped to the export terminals in Basrah, MOC’s total output will rise to around 180,000 b/d. …
Now that the fourth bid round is wrapped and closed with just one gas exploration block awarded in addition to two oil exploration blocks, it is time for Iraq’s oil ministry to draw lessons from the lackluster bid round and devise new ways to explore the Western Desert, thought to contain much of Iraq’s gas potential.
The first lesson to draw is that upstream companies are not service companies, ready to jump in on whatever terms just because their petroleum costs are paid in addition to the fixed fee. They …
Bid Round Four Results – Table
Bid Round Four Calendar of Events-Final
Bid Round Four Contract Areas-Table: Signature Bonus & Minimum Work Obligation
Bid Round Four-The Process
Calendar of Bidding May 30-31