Iraq to unveil model contracts for oil/gas exploration September 11

Home Business Iraq to unveil model contracts for oil/gas exploration September 11 17-08-2011 12:00 AM Ammon News - AMMONNEWS - Iraq's oil ministry said Tuesday that it would unveil model contracts for oil and gas exploration blocks to pre-qualified international companies on September 11, kicking off a process that will culminate with the award of contracts in January. Iraq launched its first post-war exploration round in April, offering 12 blocks in various parts of the country as part of a bid to raise oil reserves by an estimated 10 billion barrels and gas by 29 trillion cubic feet. But the oil ministry has not given details about the type of contracts it plans to offer. The oil ministry statement quoted Abdul Mahdi al-Ameedi, director general of the ministry's Petroleum Contracts and Licensing Directorate, as saying that it would present the draft contract at the meeting in Amman, Jordan, on September 11. Data packages and technical information on the blocks along with tender protocols will be available a day later. *Dubai - Platts

Home Business

Iraq to unveil model contracts for oil/gas exploration September 11

17-08-2011 12:00 AM

Ammon News - AMMONNEWS - Iraq's oil ministry said Tuesday that it would unveil model contracts for oil and gas exploration blocks to pre-qualified international companies on September 11, kicking off a process that will culminate with the award of contracts in January.

Iraq launched its first post-war exploration round in April, offering 12 blocks in various parts of the country as part of a bid to raise oil reserves by an estimated 10 billion barrels and gas by 29 trillion cubic feet. But the oil ministry has not given details about the type of contracts it plans to offer.

The oil ministry statement quoted Abdul Mahdi al-Ameedi, director general of the ministry's Petroleum Contracts and Licensing Directorate, as saying that it would present the draft contract at the meeting in Amman, Jordan, on September 11. Data packages and technical information on the blocks along with tender protocols will be available a day later.

*Dubai - Platts

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