Iraq OKs Three Exploration Deals, Delays Decision on One
The Iraqi cabinet Tuesday approved exploration deals with an OAO Lukoil Holdings-led group, an OAO Bashneft-led group and Pakistan Petroleum, and delayed making a decision on a contract with a Kuwait Energy-led consortium, a government spokesman said.
Earlier this year, Baghdad awarded four exploration blocks, out of 12 that had been put up for auction, to: Lukoil and partner Inpex Corp. of Japan; OAO Bashneft and U.K.-based Premier Oil PLC; Pakistan Petroleum; and Kuwait Energy and partners state-owned Turkish Petroleum Corp., and United Arab Emirates-based Dragon Oil PLC.
"The cabinet has approved service contracts for blocks number 8, 10 and 12, while it delayed decision on block 9 until the oil ministry completes certain procedures related to it," Ali Al Dabbagh said in an emailed statement.
Lukoil's overseas arm and Inpex were awarded block 10 located 120 kilometers west of the southern Basra governorate.
Bashneft and Premier Oil were awarded block 12 located between Muthanna and Dhiqar governorate in southern Iraq.
Pakistan Petroleum won block 8 located in Diyala and Wasit provinces in central Iraq.
The Kuwait Energy-leg group was awarded block 9 located near the Iranian border.
Baghdad has already signed initial deals with these companies, but following the cabinet's approval final signatures are required.
Iraq, holder of the world's third-largest oil reserves, has signed over the last two years several oil deals with international companies that are expected to bring the country's output close to that of the world's largest oil exporter, Saudi Arabia.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Romania Closes One Case Against Russia's Lukoil, Related Trial Still On (Nov 17)
- Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire (Oct 05)
- Russia's Lukoil Eyes Decade Of Oil Output Growth (Sep 20)
Company: Pakistan Petroleum Ltd. more info
- OGDCL Successfully Completed Testing of 2 Wells in Pakistan's Nashpa Field (Aug 25)
- PPL Begins Gas Plant Ops at Gambat South's Shahdadpur Field in Sindh (Aug 15)
- PPL Finds Hydrocarbons at Hadi X-1A Well in Pakistan's Gambat South Block (Jul 18)
Company: Bashneft more info
- Russian Court Orders Sistema To Pay Rosneft $2.3B In Damages (Aug 23)
- Russia's Lukoil CEO Sees No Risk For Bashneft Sale From Ulyukayev's Case (Nov 15)
- Russia's Rosneft Says Seeking Permission To Buy 100% Of Bashneft (Oct 28)