Posts Tagged ‘IOC’
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 award contracts by the summer.
In a bid to safeguard its sovereignty and refute criticism for offering oil-producing fields on …
5 September 2008
Since launching its first postwar licensing round in late June, Iraq’s leadership has been struggling to reach a consensus on what commercial terms would best protect long-term national interests while offering quick and efficient solutions for an oil industry worn down by years of war, sanctions and scant resources. The main issue arising from the internal debate is who should operate oil fields — the national oil company or foreign contractors — and how they should divide interests in any partnership.
When it comes to operating Iraq’s …
15 July 2008
The Iraqi cabinet has decided to establish a new body to speed up the award of contracts for strategic projects, including in the oil sector, Iraqi Prime Minister Nouri al-Maliki told International Oil Daily in an interview in Baghdad Monday. It will invite companies directly to compete for and negotiate one type of yet-to-be-determined model contract, even if the long-awaited hydrocarbon law has still to be adopted, he said.
The Higher Council for Reconstruction will be headed by the prime minister and include the deputy premier, as …