Iraq launches second oil licensing round

31 December 2008
Iraq’s Oil Ministry has launched its second oil licensing round, with 10 oil fields and one gas field on offer to international oil companies.

The list includes the two highly prized oil fields of Majnoon in Basra province and West Qurna phase 2, which holds some 6 billion barrels of oil (MEED 29:12:08).

An Iraq oil official tells MEED that the other fields are Halfaya, East Baghdad, Gharraf, Qavara, Najmah, Badrah, Diyala and Merjan/ Kifl/ West Kifl. The Siba gas field has also been included.

The official says contracts could be signed by the end of 2009 and that the fields are capable of producing up to 2.5 million barrels-a-day (b/d) of oil by 2013.

The launch of the second bid round comes as 35 prequalified oil majors weigh up a draft model contract for the first licensing round, launched in October. Bids are due to be submitted in the second quarter of 2009, with contracts scheduled to be signed by June 2009 (MEED 17:10:08).

Earlier this year Oil Minister Hussain al-Shahristani predicted the two licensing rounds would result in the state's oil production soaring to 6 million b/d by 2013, from its current 2.4 million b/d (MEED 8:2:08).

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