21 February 2003 Unfazed by the prospect of an imminent war, Iraqi oil officials are forging ahead with a 10-year plan drawn up last year, which aims to bring on stream early oil production from discovered but not-yet-developed fields, as well as launch an ambitious oil and gas exploration program to boost proven reserves. The 10-year plan, which stretches through 2012, aims at almost doubling oil production capacity in the…
Tag: Ratawi
Iraq Kicks Off Buyback Contract Negotiations
25 February 2000 Iraq has finally started negotiations on its first modified buyback agreements, offering contracts with an average term of 12-15 years to a number of Asian companies – including Malaysia’s Petronas, which is discussing a deal for the 200,000 b/d Ratawi field. Iraq believes buyback contracts may prove easier to implement than production-sharing contracts (PSCs) once United Nations sanctions prohibiting investment are lifted. “We want something we can…