Halfaya oil field in Missan province is set to become the second green field to add significant production, after Ahdab, since Iraq’s oil ministry started awarding service contracts to international oil companies. A ceremony to celebrate the first commercial production from Halfaya field at a rate of 70,000 barrels per day, is set for July, the director general of Missan Oil Co (MOC) Ali Muarij tells me. With this new…
Tag: Total
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…
BR 4: The New Incentives
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…
A Shell Stunt
After watching Royal Dutch Shell go for the kill on Majnoon oil field, I’m stunned and I’m sure I’m not the only one. I expected companies to try and undercut each other to win one of the fields offered in the second bid round, before the door of Iraq oil closes again. But I didn’t expect them to go way below the maximum remuneration fee the oil ministry was willing…