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Amidi: start receiving bids for the development of oil and gas fields next June


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https://uk.reuters.com/article/uk-iraq-energy-exploration/iraq-offers-nine-oil-and-gas-blocks-for-exploration-near-iran-kuwait-borders-idUKKBN1DQ0BW?rpc=401&.

 

NOVEMBER 26, 2017 / 10:14 AM / UPDATED AN HOUR AGO

Iraq offers nine oil and gas blocks for exploration near Iran, Kuwait borders

 

Reuters Staff

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BAGHDAD (Reuters) - Iraq plans to invite foreign energy firms to bid for the exploration and development of nine new oil and gas blocks bordering Iran and Kuwait, the oil ministry said in a statement on Sunday.

Iraq is to hold a press conference on Monday to announce details of the exploration blocks which are located in the south and east of the country and include one offshore block in the territorial waters, according to the statement.

 

Reporting by Ahmed Rasheed; Editing by Elaine Hardcastle

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Iraq plans oil and gas explorations in 9 border areas

Iraq plans oil and gas explorations in 9 border areas
One of these areas is in territorial waters
 
 26 November 2017 01:48 PM

Mubasher: Iraq's oil minister will hold a press conference on Monday to invite international companies to invest and contribute to the exploration and development of nine border areas, with Kuwait and Iran.

Jabbar Ali Al-Allaibi said in a statement on Sunday that the ministry seeks to maximize production and reserves of oil and gas through the optimal investment of national wealth in cooperation with international companies.

He added that the ministry will announce the names of these areas in the provinces of Basra, Maysan Muthanna, Wasit and Diyala, and one in the territorial waters in southern Iraq.

He continued that the ministry will adopt new models of contracts in agreement with companies wishing to invest according to the requirements of the national interest in the development of the oil and gas industry in the country, and to ensure financial revenues that strengthen the federal budget and economic growth.

Iraq's oil minister said in February that his country plans to start exploring oil and gas in the offshore fields to boost its oil reserves .

And Iraq resumed oil exploration early in 2013 after a hiatus lasted for three decades . 

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  • yota691 changed the title to Iraq calls on international companies to invest in and contribute to the exploration, development and production of nine border oil sites
 

 

 


Baghdad, April 26, 2017 SPA - 
Iraq called on international companies to invest in and contribute to the exploration, development and production of nine border oil sites with "hydrocarbon" structures, one of them in Iraqi territorial waters. 
"The ministry aims, through the new licensing round, to increase oil and gas production and reserves by optimizing the investment of national wealth in cooperation with international companies," Iraqi Oil Minister Jabbar al-Allaibi said in a statement. 
He added that "the ministry will announce the names of these sites at a later time and distributed to the provinces of Basra, Maysan, Muthanna, Wasit, Diyala and territorial waters in southern Iraq." 

 
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5 minutes ago, yota691 said:
 

 

 


Baghdad, April 26, 2017 SPA - 
Iraq called on international companies to invest in and contribute to the exploration, development and production of nine border oil sites with "hydrocarbon" structures, one of them in Iraqi territorial waters. 
"The ministry aims, through the new licensing round, to increase oil and gas production and reserves by optimizing the investment of national wealth in cooperation with international companies," Iraqi Oil Minister Jabbar al-Allaibi said in a statement. 
He added that "the ministry will announce the names of these sites at a later time and distributed to the provinces of Basra, Maysan, Muthanna, Wasit, Diyala and territorial waters in southern Iraq." 

 

 

I, along with thousands of other DV ers call on Iraq to get busy, pass the HCL, and then RV your amday currency.  This nonsense has gone on long enough.

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IRAQ OFFERS NINE OIL AND GAS BLOCKS FOR EXPLORATION NEAR IRAN
Iraq, November 27, 2017 
pic957396.jpg?76227

Iraq will invite foreign energy firms to bid for the exploration and development of nine new oil and gas blocks bordering Iran and Kuwait, the oil ministry said in a statement on Sunday.

Iraq is to hold a press conference on Monday to announce details of the exploration blocks which are located in the south and east of the country and include one offshore block in the territorial waters, according to the statement.

'The ministry is targeting to boost both production and reserves of oil and gas in cooperation with international companies,' said the ministry statement.

Iraq has raised output rapidly in recent years with the help of foreign oil companies to become Opec’s second-largest producer behind Saudi Arabia.



The blocks on offer are located in the provinces of Basra, Misan, Muthanna, Wasit and the Central Diyala province.

The contracts will be different from previous service contracts Iraq signed with foreign firms to develop the country’s giant southern fields, said the statement.

Under the service contracts used for Baghdad’s post-2003 bidding rounds, including those for its southern fields like Rumaila, West Qurna and Majnoon, the ministry pays companies a fixed dollar-denominated fee for every barrel of oil produced.

While the model worked well for Baghdad when oil prices were high, the slump in prices left Baghdad paying the same fees to firms like BP, Exxon, Lukoil and Shell at a time when revenue from oil sales was significantly lower.

timesofoman

 

 

http://iraqdailyjournal.com/story-z16275732

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  • yota691 changed the title to Amidi: start receiving bids for the development of oil and gas fields next June
 
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Economy News _ Baghdad

The director of licenses and contracts in the Ministry of Oil Abdul-Mahdi al-Amidi, on Tuesday, the start of receipt of bids to develop nine oil and gas fields in June in an attempt by the Iraqi state to strengthen its oil imports.

"The detailed energy information will be disclosed in the nine areas listed at the end of this month," Amidi said in a press release obtained by Al-Iktissad News.

"Companies bidding on projects will be able, for the first time, to participate in the drafting of the contract, as an incentive for bidders."

"Five of the nine fields or blocks as referred to by Iraq are shared with Iran and Kuwait and one in the Gulf."

Iraq has the fourth largest oil reserves in the world. " 

 

 

Views 19   Date Added 28/11/2017

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Iraq, November 28, 2017 

Iraq invited foreign firms to apply for tenders to explore and develop nine oil and gas fields along its Iranian and Kuwaiti borders, along with an offshore bloc.

The call was issued by Oil Minister Jabbar al-Luaybi.

'The aim of these development plans... is to achieve the ministry's goal aimed at maximizing oil and gas reserves and optimizing investments in border blocs neglected in past decades due to wars,' Luaybi said at a press conference on Monday (November 27) in Baghdad.

Eight of the fields are located in the southern and eastern provinces of Basra, Missan, Muthanna, Wassit and Diyala, while the ninth is offshore in Iraqi territorial waters in the Gulf, he said.

Iraq fought a devastating eight-year war with its neighbor Iran from 1980 under former dictator Saddam Hussein, but the two countries have become close allies after Saddam's fall in 2013 and the rise of a Shia-led government in Baghdad.

In August 1990, Saddam ordered the invasion of Kuwait after Baghdad accused its neighbor of 'stealing' Iraqi oil from the key Rumaila oilfield which straddles the two countries.

The Kuwait invasion led to the first Gulf war, which ended after a U.S.-led international coalition ousted Iraqi forces from the emirate.

Another U.S.-led invasion in 2003, the rise of the Islamic State (ISIS) and the fightback against it, conflict between Baghdad and the Kurds over disputed northern oilfields and years of low crude prices have combined to devastate Iraq's oil industry.

Iraq is a founding member of the OPEC cartel and its second largest producer after Saudi Arabia, but currently only exports around 4.4 million barrels of oil per day.

Luaybi is due to travel to Vienna on Monday to attend a meeting of the Organization of the Petroleum Exporting Countries cartel, which is set to discuss a reduction in oil production.

The bidding process to exploit the nine blocs will open on June 21, according to Abdel Mahdi al-Aidi, who heads the department in charge of contracts at Iraq's oil ministry.

nrttv

 

http://iraqdailyjournal.com/story-z16283858

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