Since the Rumaila service contract entered into effect on Dec.17, BP and the Rumaila operating division of SOC have not been wasting any time. They held the first joint management committee meeting on Jan.20, decided on a $1.7 billion budget for 2010, and launched the first tenders for drilling and supply contracts. The target is to add between 150,000-200,000 b/d by December 2010 and rehabilitate the gas oil separation facilities…
Tag: FOD
Jabbar Al-Luaibi
Former Director General of South Oil Co and oil ministry advisor Jabbar al-Luaibi discusses in an interview with Ruba Husari in Dubai May 16, 2009 the state of the oil fields in southern Iraq and the reasons behind the recent loss in production capacity at Iraq’s major producing oil fields. Q: You brought the oil sector back from the ashes in 2003 and ramped up production till you achieved…
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…