Companies prequalified to bid for one of 12 blocks in Iraq’s upcoming fourth licensing round have since last week been poring over the adjusted terms introduced by Iraq’s oil ministry to the second version of the draft “exploration, development and production service contract” or EDPSC. The new terms offer incentives to companies based on comments and observations they provided to the petroleum contracting and licensing department. It took longer than…
Tag: The View from Baghdad
Reserves Politics
Iraq’s newly announced proven oil reserves figure of 143.1 billion barrels is most likely closer to the reality than the old one of 115 billion bbls minus what has been produced since the last revision, which is put at 5 billion bbls. But the question is how did Iraq arrive at this magic number without new exploration or new discoveries and while 3-D seismic surveys for the southern oil fields…
Are US Plans for Iraq Shaping Up as Hoped?
6 May 2003 With the weekend announcement of the first two names for an advisory board, US plans for oversight of Iraq’s oil industry appear to be taking shape. But questions are being asked as to why the rest of the board is taking so long to firm up, and what this might mean for Washington’s ability — or desire — to shape Iraqi oil policy. Some observers say that…
US Asserts Authority at Iraqi Oil Ministry
30 April 2003 A senior US official from the Office of Reconstruction and Humanitarian Assistance (ORHA) made a first visit to the Iraqi oil ministry in Baghdad on Tuesday, delivering instructions from ORHA chief Jay Garner that the status quo be preserved at the ministry for the time being. In the first meeting since the collapse of Saddam Hussein’s regime and the occupation of Iraq by US forces, ORHA senior…