41 world companies to compete in Iraq's fourth oil-licensing round

THIS WAS ORIGINALLY SCHEDULED FOR JAN. 2012..IT HAS NOW BEEN MOVED TO SEPTEMBER..WONDER WHY?


http://www.aknews.com/en/aknews/2/256991/


41 world companies to compete in Iraq's fourth oil-licensing round


14/08/2011 16:14

Baghdad, August 14 (AKnews) – 41 companies around the world are preparing to enter Iraq’s fourth oil licensing round on September 11, says the Oil Ministry.Oil

Ministry Director of Contracts and Licenses Abdulmahdi al-Amidi told AKnews that 41 international energy firms – chosen from among 50 according to size, technical expertise and financial assets - have registered bids.

Iraq – a member of OPEC - currently exports around 2.5 million barrels of oil per day (bpd) but with and extractable reserve of 143 billion barrels - the third largest in the world – plans are afoot to increase output to around 12 billion bpd over the next five years.


Reported by Jaafar alWannan

RY/KA/AKnews

NICE!!!!!!!!...great find Gente!

Wow, very interesting. Does anyone remember when the fiscal budget year starts in Iraq. Is it October or January. CK will know, have to check with her.

I thought this was pretty big, as they usually push things further out, never moving UP their schedules...hopefully pressure is being applied as Pan stated...

Jan. 1st to Dec. 31st on Iraq budget

MrsCK wrote:Jan. 1st to Dec. 31st on Iraq budget

thx CK, Wind..looks like they are getting their ducks in a row..wonder if they will RV before the new budget....

http://en.ammonnews.net/article.aspx?articleNO=13351


Iraq to unveil model contracts for oil/gas exploration
September 11

2011-08-17

Iraq to unveil model contracts for oil/gas exploration September 11

AMMONNEWS - Iraq's oil ministry said Tuesday that it would unveil model contracts for oil and gas exploration blocks to pre-qualified international companies on September 11, kicking off a process that will culminate with the award of contracts in January.

Iraq launched its first post-war exploration round in April, offering 12 blocks in various parts of the country as part of a bid to raise oil reserves by an estimated 10 billion barrels and gas by 29 trillion cubic feet. But the oil ministry has not given details about the type of contracts it plans to offer.

The oil ministry statement quoted Abdul Mahdi al-Ameedi, director general of the ministry's Petroleum Contracts and Licensing Directorate, as saying that it would present the draft contract at the meeting in Amman, Jordan, on September 11. Data packages and technical information on the blocks along with tender protocols will be available a day later.