I was privileged two years ago to be invited, as an observer, to attend a roundtable in Paris where about 30 Iraqis from inside and outside of Iraq, with experience in government and the oil sector, convened over three days to discuss in a candid and open manner how to define an oil policy for Iraq. To my surprise – and the shock of everyone else in the room –…
Category: The View from Baghdad
The weekly article from Baghdad
First Bid Round Revisited
Lukoil’s Vagit Alekperov said his company has now changed its mind on West Qurna -1 oil field following a detailed analysis and is now ready to follow in the footsteps of BP/CNPC and sign up to develop the field for a $1.9/bbl remuneration fee, the maximum fee the Iraqi oil ministry was willing to offer oil companies when the first licensing round bids were opened on June 30. Lukoil is…
2nd Bid Round
International oil companies who attended Iraq’s 2nd bid round roadshow in Istanbul Tuesday were unfazed by the growing tension in Baghdad ahead of the January legislative elections. The 42 companies who attended – out of 45 who have been prequalified to participate in the bid round – will compete for 10 contract areas, four of which include the giant fields of Majnoon, West Qurna-2, East Baghdad and Halfaya. The short…
IDC’s Grand Plans
Iraq Drilling Co (IDC) is forging ahead with building its own drilling capacity while waiting for the oil ministry to pick one of its many suitors to establish a new joint venture after the first attempt with Mesopotamia Petroleum faltered last month. “Two years ago no company would come and work in Iraq so we had to go with Mesopotamia even though it had no track record. Today, many reputable…