Posts Tagged ‘pcld’
Nassiriya Integrated Project- Indicative Timeline
PCLD Announcement – Prequalified Companies (The following companies have been newly pre-qualified for downstream or upstream/downstream. Bidding is open to those companies as well as those already pre-qualified in previous rounds).
It’s unique, it’s challenging and it’s complex, but Iraq’s oil ministry seems determined to make the first upstream-downstream integrated project in Nassiriya a reality. What’s more, forget the $ per barrel fee that was the basis of all previous service contracts. On this one, investors will make a return on their investment from a percentage of the revenues Iraq will rake, pretty much like the “profit oil” concept in production-sharing contracts, but in cash not in kind.
Previous efforts to sell the Nassiriya refinery project under an investment scheme – …
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 …