Iraqi Gas Auction to be Delayed?

Iraq is still planning to hold a licensing auction to award three major gas field licences as scheduled on 1st October, but according to Dow Jones, an Iraqi oil official has conceded that a delay is possible.

Eleven international companies have paid the participation fees. They are reported to include Italy's Edison (EDN.MI), France's Total (TOTF.PA), South Korea's KOGAS, Russia's TNK-BP (TNBPI.RTS), Turkiye Petrolleri (TPAO), India's Oil & Natural Gas Corp (ONGC.BO), Kuwait Energy, and Itochu of Japan.

The Iraqi oil official said the auction could be delayed for a few weeks to give companies enough time to study a model contract submitted to them last week.

We understand that several companies have requested more time, and the companies have been consulted as to whether they would all prefer this.

An oil executive says the companies have been given until Wednesday to reply.

Earlier, Abdul Mahdy al-Ameedi, head of the state-run Petroleum Contracts and Licensing Directorate, said he was still intending to hold the auction on Oct. 1.

Click here for more details of the gas fields being auctioned.

(Sources: Reuters, Dow Jones)

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