Mees Op-Ed July 6, 2009
Tag: 1st bid round
Trickling Production
Things are happening at Nassiriya oil field in southern Iraq. The field, which accounts for some 4.3 billion barrels of oil reserves, has become the latest oil field to start production in recent days, albeit at a moderate pilot rate of 20,000 b/d. Nassiriya was discovered by Iraq National Oil Co (INOC) in 1975 and remained undeveloped for more than three decades after the drilling of the first exploration well…
1st Licensing Round-Factbox
Results of the First Licensing Round announced in Baghdad June 30, 2009 Objective Of The Process Prequalification Process Timeline Contract Areas Fields Overview Participating Companies Participation Fees Consortia Bidding 1st Licensing Round Fields Reserves (table) 1st Licensing Round Prequalification Process & Results 1st Licensing Round Fields Map
Iraq Watch – Zero-Sum Game
6 February 2009 Collapsing oil prices and dwindling revenues are forcing Iraq’s oil ministry to review the terms of the first bid round it launched last summer. After all, the state entity might not be able to finance a 51% carried interest in each of the six oil fields as stipulated in the bid round’s tender protocol and draft model contract. As a result, companies meeting ministry officials at a…