Iraq Official: To Announce Cos Qualified For Oil Bids Monday

AMMAN, April 11, 2008 (Dow Jones Newswires)

Iraq will announce Monday those international companies qualified to bid for tenders to develop one of the world's largest oil fields, an Iraqi oil ministry official said Friday.

"Names of qualified companies will be announced on Monday at 12 o'clock local time (0900 GMT)," the official told Dow Jones Newswires by telephone from Baghdad.

The ministry in February said that some 70 international companies had filed registration documentation to the ministry to take part in a future tender to develop Iraq's oil fields with proven oil reserves of 115 billion barrels, the world third-largest. Oil Minster Hussein al-Shahristani said some 115 companies sent documents.

The ministry had asked international oil companies to register with the newly set up Contracts and Licensing Office of the Ministry early January and set Monday Feb. 18 as the final day for receiving registration documentation. It said only registered firms can bid for tenders to develop Iraq's vast oil reserves, the third-largest in the world.

The ministry has been studying and checking the documents since the Feb. 18 deadline, the official said.

Major oil companies such as BP PLC, Royal Dutch Shell PLC, Repsol YPF, Total SA, ConocoPhillips and Italy's Edison SpA are among firms that have said they sent or were intending to submit documentation.

Companies that have signed deals with the Kurdish semiautonomous rule are likely to be excluded from the Iraqi oil ministry's list to take part in Iraq's oil fields development, Iraqi oil officials have said.

Kurdish authorities have signed contracts, mostly production-sharing agreements, with around 20 international companies to develop oil and gas fields in their region. These deals have angered the federal oil ministry in Baghdad, which has declared them illegal and said foreign companies who signed these contracts would be blacklisted.

Iraq is currently tendering technical support agreements, or TSAs, that will help increase production in the country's largest oil fields by 500,000 barrels a day. Iraq is currently producing around 2.4 million barrels a day.

Iraq is also planning to issue the first round of tenders to develop some of its prized oil fields during the second quarter of this year, according to al-Shahristani.

AMMAN, April 11, 2008 (Dow Jones Newswires)

Related Companies
 Company: BP plcmore info

 - Sources: BP Sells U.S. Crude Oil to Thailand, Australia for First Time (Oct 26)
 - Industry Must Be 'Stimulating, Challenging' to Inspire Millennials (Oct 25)
 - BLOG: Challenging Attitudes toward Sexuality in Oil, Gas (Oct 25)
 Company: Shellmore info

 - Shell Suspends Pacific Northwest Crude-By-Rail Project (Oct 7)
 - Norway Gas Plant Workers Agree Wage Deal, Avoid Strike (Oct 7)
 - Oil Industry Teams Up to Fight Cyber-Crime (Sep 29)
 Company: Total S.A.more info
 - Airport Staff Involved In Total CEO Plane Crash Had Been Drinking (Oct 25)
 - Total Says Brazil Libra NW Prospect Holds 3-4 bln Barrels of Oil (Sep 29)
 - Oil Industry Welcomes Indonesia's Tax Reform, But Says It's Not Enough (Sep 23)
 Company: ConocoPhillipsmore info

 - ConocoPhillips Sues Venezuela's PDVSA, Calls Bond Swap 'Fraudulent' (Oct 7)
 - MedcoEnergi Acquires ConocoPhillips' Stake in South Natuna Sea Block (Sep 20)
 - Pertamina's Upstream Arm Produces 15% More Oil, Gas Than Planned (Sep 19)
 Company: Repsol more info
 - Bolivia, Repsol to Sign Deal to Develop Two Natural Gas Fields (Oct 26)
 - Jefferies: OPEC Output Cut Unlikely (Oct 11)
 - Spain's Repsol Provides $1.2B Credit Line For Venezuela Oil JV (Oct 7)
 Company: Edisonmore info
 - Sources: Total-Led Consortium Bids for Greek Offshore Gas Drilling Block (Feb 5)
 - Edison Looks to Sell Part of Egypt's Abu Qir Field (Jan 14)
 - North Energy Sells Barents License Stake to Pure E&P (Oct 12)

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Operations Supervisor II Job
Expertise: Field Service Tech|Refinery / Plant Operations Supervisor|Regulatory Compliance
Location: Minneapolis, MN
Production Engineer
Expertise: Production Engineering
Location: Houston, TX
Senior Client / Program Manager
Expertise: Geologist|Reservoir Engineering
Location: Seattle, WA
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours