Iraq to Hold Roadshow Aug 25 on 2nd Round Oil, Gas Deals

AMMAN (Dow Jones Newswires), Jul. 27, 2009

Iraq's Oil Ministry will hold a roadshow in Istanbul next month to brief international companies on a list of oil and gas fields to be offered later this year in a second licensing round for long-term development contracts, a statement posted on the ministry's Web site Sunday said.

"The roadshow will be in Istanbul on Aug. 25, 2009 at the Intercontinental Hotel," the ministry said in a statement issued by the Petroleum Contracts and Licensing Directorate, or PCLD.

The PCLD issued a final list of fields in its second post-war licensing round, listing 10 projects - including the prized and largely untapped fields of Majnoon and West Qurna phase II. The new list excluded the southern Siba gas field.

"They were 11 groups of fields, but the oil ministry in a meeting last week decided to exclude Siba gas field," a top ministry official told Dow Jones Newswires by telephone from Baghdad.

"It was dropped because it is near the border with Iran," he said without giving further details.

The PCLD said: "Registration for the roadshow is only for companies that are pre-qualified to participate." The oil ministry pre-qualified some 49 international companies to take part in the first and second bidding rounds. They include the oil majors such as Total, BP, Royal Dutch Shell, Chevron, ExxonMobil, Lukoil, and ConocoPhillips.

"Companies will need to sign in to register for this event," it added.

Unlike in the first round, there will be no soft loans attached to the second-round service contracts, but signature bonuses will be instated in a tender protocol to be issued in few weeks, the official said.

The second bidding round, unlike the first round's producing fields, covers mostly undeveloped fields. Some small oil fields were grouped together.

They included Halfaya in the southern Missan province: Garraf in Thi Qar province; Kifl, Kifl West and Marjan in Najaf and Kerbala provinces; Badra in Wasit; Qaiyarah and Najmah in the northern Nineveh province; and Gumar, Gilabat; Nau Doman, and Khashm Al-Ahmr in the northeastern Diyala province.

Only the northern part of the giant East Baghdad oil field is included in the second bid round, while the southern portion of the field is to be awarded under an exploration, production and construction, or EPC, deal.

The second round also excluded giant fields such as West Qurna phase I, Zubair, Missan, Bai Hassan and Kirkuk which weren't awarded in the first round held in Baghdad June 30.

The only deal awarded in the first licensing auction was the giant Rumaila oil field to an alliance consisting of BP and China National Petroleum Corp.  

Copyright (c) 2009 Dow Jones & Company, Inc.

Related Companies
 Company: BP plcmore info

 - BP Says Will Break Even With Oil At $55/Barrel In 2017 (Oct 18)
 - BP Boss Dudley Sees Oil Prices At $55-$70 For Rest Of The Decade (Oct 11)
 - BP Scraps Plan To Drill Off Australia's South Coast (Oct 11)
 Company: Exxon Mobil Corporationmore info

 - Exxon CEO Doesn't See Supply Shortage Pushing Up Oil Prices (Oct 19)
 - ExxonMobil To Start Drilling First Liberia Well In November (Oct 19)
 - Norway Gas Plant Workers Agree Wage Deal, Avoid Strike (Oct 7)
 Company: Lukoilmore info
 - Lukoil Considering Eurobond Within Weeks (Oct 18)
 - Russia's Lukoil CEO Says Not Ready To Reduce Oil Output (Sep 30)
 - Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts (Aug 22)
 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
 - 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)
 - Oil Firms Seen Spending More Next Year For First Time Since 2014 (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: Chevron Corporationmore info
 - Chevron Confirms Is In Discussions For Potential Bangladesh Sale (Oct 13)
 - Kidnapped Romanian Oil Engineer in Niger Delta Released (Oct 13)
 - Jefferies: OPEC Output Cut Unlikely (Oct 11)
 Company: CNPCmore info
 - CNPC's Natgas Block In Peru Likely Has 3-4 TCF In Reserves (Oct 19)
 - China September Crude Output In Second-Biggest Decline On Record (Oct 19)
 - CNPC Selling $11B In Financial Assets To Listed Unit In Reform Push (Sep 6)
 Company: Iraq Ministry of Oilmore info
 - Exxon Spearheads Iraqi Water-Injection Project (Apr 19)
 - Iraq to Alter Signature Bonuses on 2 Oil Field Deals (Apr 15)
 - Iraq Plans New Licensing Auction for 3 Gas Fields (Apr 14)

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours