Kuwait Energy Updates on Iraqi Operations

In its latest quarterly report, Kuwait Energy has issued an update on its Iraqi operations:

The Iraqi Ministry of Oil announced its intention to offer 12 exploration blocks covering various locations in Iraq.

Technical data for each block was made available for purchase in September 2011 along with a preliminary Exploration, Development and Production Service Contract (EDPSC).

A workshop to address potential participants’ concerns is planned for early December 2011.

Bidding dates are planned to be on March 7th and 8th 2012.

Kuwait Energy is carrying out preliminary, technical, evaluations of the blocks and screening potential partners for further cooperation.

In 2010, KEC won the bid to develop the Siba and Mansuriya fields in Iraq - additional 2P WI reserves of 141.9mmboe were booked post the contract signing in June 2011.

(Source: Kuwait Energy)

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