Posts Tagged ‘Sonatrach’
28 February 2003
In talking about possible war against Iraq, Bush administration officials insist that their main objective is not to get their hands on the country’s massive oil reserves. But post-war, fierce competition is almost bound to erupt between US oil firms that have been kept off-limits by the Iraqis, and those — including Russian, Asian, and European companies — that either have firm contracts with the current regime or have negotiated but not signed deals.
Right now, six companies hold exploration or development contracts. Indian state Oil and …
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 really implement and we think the old type of contracts [PSCs] are more complicated in the present circumstances,” says an …