Exploration block auction planned for January 2012
Iraq’s Oil Ministry will hold a roadshow in Jordan in September to outline the basic features of the model contracts planned for the country’s fourth bidding round.
On 11 September, prequalified firms will receive technical information on the exploration blocks, as well as the conditions of the auction, according to a 16 August statement by the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD).
Data packages for the blocks and initial tender documents will be available for purchase on 12 September. The companies will then have until mid-October to review the model contract and submit questions on the technical data.
The PCLD will hold a workshop at the beginning of November to discuss model contract terms, before the release of the final contract on 15 December.
Earlier this month, the Oil Ministry prequalified 41 firms to bids in the oil and gas exploration block auction, which will be held in January 2012. Some 50 firms submitted prequalification documents on the 6 June deadline. The firms have been divided into two tiers; operators and partners, although the PCLD did not reveal details on the breakdown (MEED 12:8:11).
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