22 June 2007 After weeks of haggling and tough bargaining, Iraq’s central government and the northern Kurdish region have agreed a draft revenue-sharing law — opening the way for parliament’s approval of a hydrocarbon law regulating international investments in Iraqi oil and gas fields. The draft revenue law is a compromise that ensures the Kurds get an adequate and timely share of state revenues, but keeps the collection and distribution…
Tag: Kirkuk
Iraq: Big Hopes, Little Progress
14 September 2007 International oil companies, big and small, flocked to Dubai over the past two weeks to hear Iraqi oil officials expound the riches of their oil fields. Few needed convincing of the country’s potential: After all, where else in the world are there 110 discovered reservoirs in almost 80 oil fields, with less than half developed, mostly partially? Yet their mood was dampened by the simple fact that…
Iraq Awards Studies for Top Reservoirs
18 January 2005 Iraq’s oil ministry has awarded contracts for reservoir studies at its giant Kirkuk and Rumaila oil fields to UK major BP and UK-based Exploration Consultants Ltd. (ECL), a senior Iraqi official said Friday. Royal Dutch/Shell will also play a supporting role to the oil ministry on the Kirkuk study under a technical service agreement, the official added — which will include the Anglo-Dutch major financing that field’s…
Firms Line Up to Give Iraq Free Services
14 April 2005 The pending appointment of a new government in Iraq — the third since September 2003 — appears unlikely to open the doors to large investments by international oil companies, although the drawing up of a constitution later this year may take them one step closer. But that’s not deterring firms from getting a foot in the door, with some 29 companies signing memorandums of understanding (MOU) with…