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…

To Bid or Not To Bid

The first day of Iraq’s oil ministry’s fourth bid round confirmed what many people, including those who worked on the model technical service contract, had expected: conducting exploration and development on the terms offered under these contracts is going to be a hard sale. Kuwait Energy with its partners, Turkey’s TPAO and UAE’s Dragon Oil, was willing to play by what’s on the table to secure Block 9 because it…

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…