Bid Round Four Results

Block 1 Bidders & Bids: None Ministry’s maximum acceptable Remuneration fee: –  Location: The block lies within the northwestern part of Iraq, about 100 km west of Mosul by the Syria-Iraq border and covers an area of around 7,300 km2. Geology: Located in Rutba-Jezira tectonic zone, large structures remain undrilled. Two wells have been drilled in the north and the south of the block. Oil was tested from the Miocene and…

ONGC, Pertamina Renegotiate Iraqi Deals

25 April 2008 India’s state Oil and Natural Gas Corp. (ONGC) and Indonesia’s Pertamina recently opened talks with Iraq’s oil ministry about renegotiating exploration contracts signed with the Baath regime before the war in 2003, Iraqi officials told International Oil Daily Thursday. The two companies met with Iraqi ministry officials in Amman last week to adapt the deals to the new model contracts — called Service Exploration and Production Contracts…

Iraq: China’s Breakthrough

29 August 2008 China this week became the first country since the overthrow of Saddam Hussein to clinch an oil deal with Iraq, by reviving the first of a series of contracts signed by the previous Iraqi regime under new terms dictated by new realities. The service contract for development of the Al-Ahdab field, which includes a mix of old production sharing elements and new service contract terms, sets a…