NEW OIL DEVELOPMENT OPPORTUNITIES IN IRAQ

by **Ponee** Tue Oct 25, 2016 11:35 am

NEW OIL DEVELOPMENT OPPORTUNITIES IN IRAQ
Iraq, October 25, 2016
Iraq’s Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields.
The fields concerned are:

Sindebad (Basra governorate);
Umm Qasr [Um Qaser] (Basra governorate);
Rachi (Basra governorate);
Abu Khema (Basra governorate);
Kumait (Missan governorate);
Noor (Missan governorate);
Umara (Missan governorate);
Dema (Missan governorate);
Dujaila (Missan governorate);
Mid-Euphrates fields (Mergan, Kifl, West Kifl).

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The companies already qualified to bid are:
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China Zhenhua Oil Company (China)
Dragon Oil (UAE)
Edison (Italy)
Glencore Exploration (Switzerland)
Gulfsands Petroleum (UK)
Inpex (Japan)
Itochu (Japan)
Japex (Japan)
JOGMEC (Japan)
JX Nippon (Japan)
Kuwait Energy (Kuwait)
Mitsui Oil Exploration (MOECO) (Japan)
Mubadala Oil (UAE)
OSJC Rosneft (Russia)
Pertamina (Indonesia)
PetroVietnam (Vietnam)
PTTEP (Thailand)
SNGN Romgaz (Romania)
Crescent Petroleum (UAE)

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Tenders from non-qualified companies will also be considered.

iraq-businessnews

http://iraqdailyjournal.com/story-z14144306 [/size]

by **Ponee** Tue Oct 25, 2016 11:36 am

Iraq offers oil fields under the new conditions of the contracts

00:12:26 10/25/2016 | (Voice of Iraq Reuters) - The

Iraqi Oil Ministry has launched a new round of bidding to develop 12 oil fields small and medium will negotiate directly to terms with the companies at a time when it is trying to move from service contracts concluded by the former to develop giant fields system.

The distribution of the fields before the three counties and includes four in Basra and five in Maysan and three in central Iraq , according to the tender published the location of the Iraqi oil Ministry documents on the internet.

the companies qualifying advance to the round of 19 companies , including six Japanese companies and Emirati include Dragon oil and Mubadala Petroleum and Crescent Petroleum and also Glencore Swiss for exploration and companies from China, Russia Italy, Kuwait, Indonesia, Vietnam, Thailand and Malaysia. the

new call will allow oil companies " to submit their proposals for the contract as business and financial models" in an apparent shift from the service used in the giant oil fields south of the country for decades.

the ministry will conduct direct negotiations with foreign oil companies individually or in consortia form and will use the talks as a basis for the establishment of development and production contracts.

under the service contracts used by Baghdad in the rounds after 2003 , including those of the southern oil Bhakolha giant such as Rumaila and West Qurna 1 and 2 and crazy ministry 's major oil companies to pay fees fixed dollar - denominated all barrels of oil being produced.

while it was good this model for Baghdad , when oil prices were high, the price decline over the last two years to make Baghdad pay the same fees for companies such as BP, Exxon and Lukoil ,Shell at a time when oil sales revenue dropped significantly.

the oil Ministry said repeatedly it wants to renegotiate the service contract terms with international oil companies to link the fees received by companies in exchange for the development of its fields to oil prices as well as the burden - sharing with the companies when the drop in crude markets.

the participating companies that have not been pre - qualified in the tender after payment fees worth 15 thousand dollars and provide proof of the technical and financial capabilities. The Ministry of Oil information and data in all fields crafted bag About compared to 50 thousand dollars.

http://www.sotaliraq.com/latestnews.php?id=356455

NEW OIL DEVELOPMENT OPPORTUNITIES IN IRAQ

NEW OIL DEVELOPMENT OPPORTUNITIES IN IRAQ

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