As the IOCs are moving now towards fulfilling the requirements of the rehabilitation and preliminary development plans of the first phase of the contracts of the mega projects starting to prepare enhanced and final development plans for the second phase and ramping up of production towards the PPTs, many discussions arose and opinions were expressed about the need, or otherwise, for revising the PPTs downwards, increasing the time allowed to…
Tag: oil fields
Abdul Mahdi Al-Ameedi
Abdul Mahdi al-Ameedi, director general of Iraq’s oil ministry’s Petroleum Contracts & Licensing Dept. (PCLD), sheds light on the ministry’s fourth bid round scheduled for May30-31, and the service contract on offer, its advantages and shortcomings, in an interview with IOF editor Ruba Husari in Baghdad. (للنص العربي اضغط هنا) Q: Offering a service contract type with a fixed fee for oil and gas exploration work is unusual and almost…
Power Sharing
A power-sharing deal brokered after eight months of protracted negotiations among the winning parties in Iraq’s March legislative elections seems to have led to a situation where the country is led by two executive bodies: the cabinet and the National Council for Strategic Policies (NCSP). In the new era the two state institutions would have executive powers over oil and gas issues, from endorsing oil pipelines deals with neighboring countries,…