Iraq managed to award 6 out of 11 exploration block and gas field in its fifth bid round, despite the rushed organisation which kept big players such as Exxon Mobil, Total and Lukoil away despite showing earlier interest. Most of the bidders were first comers to Iraq, vying for a foothold in the country’s prolific oil and gas sector. (Full Results) Coming just two weeks ahead of national elections, it…
Iraq’s fifth bid round launched last year has fallen victim to national electioneering. After missing the first deadline in the timeline announced end of November to conduct a roadshow for the tendered exploration blocks by early February, technocrats at Iraq’s oil ministry received sudden instructions to cut through the usual process and prepare to award exploration and development contracts by April 15. Just like the Iraq National Oil Co (INOC)…
As Iraq and Kuwait forge ahead with their political rapprochement and the demarcation of their international boundaries, a major milestone will be achieved once an agreement is reached on the joint oil fields that straddle the border between the two states. That’s where Iraq needs all its resources to settle the issue in a manner that preserves its sovereignty and safeguards its interests in a way that does not lead…
