After watching Royal Dutch Shell go for the kill on Majnoon oil field, I’m stunned and I’m sure I’m not the only one. I expected companies to try and undercut each other to win one of the fields offered in the second bid round, before the door of Iraq oil closes again. But I didn’t expect them to go way below the maximum remuneration fee the oil ministry was willing…
Tag: Halfaya
2nd Bid Round: The Results – 11 December 2009
– MAJNOON OIL FIELD: THE BIDDERS: 1. Royal Dutch Shell (60%) – Petronas (40%) FEE BID: $1.39 PLATEAU: 1,800,000 b/d SCORE:100 2. Total (57%) – CNPC (43%) FEE BID $1.75 PLATEAU: 1,405,000 b/d SCORE: 79 Ministry Max Remuneration Fee: not revealed Majnoon contract awarded to SHELL – HALFAYA OIL FIELD: THE BIDDERS: 1. ONGC (50%) – TPAO (30%) Oil India (20%) FEE BID: $1.76 …
Final Tender Protocol – Excerpts
Final Tender Protocol – Excerpts Bidding Schedule Dec. 11-12 Process Timeline: Bidding, Ratification, Signature Bidding Parameters & Bid Score Formula The Final 44 Pre-qualified Entities The 10 Contract Areas: Current Production, Minimum Plateau Production Targets, Plateau Duration, Signature Bonus, Minimum Expenditure Obligation