By Ahmed Mousa Jiyad.
Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
The Iraqi Ministry of Oil (MoO) prepared a complex contract commensurate with the structure and complexity of Nasiriya Integrated Project (NIP), to be offered in a bid round scheduled for December 2013. Mindful of previous experience and the importance of NIP, MoO offers a sweetening package hoping for attracting enough attention of the IOCs.
This contribution intends to shed light on the fundamental provisions that have direct and indirect bearings on the fiscal and financial aspects of the contract in comparison with those of the previous bid rounds.
The paper begins with providing brief background on the field and the bidding process followed by assessing the main provisions ending with few concluding remarks. Texts written inside quotation marks “ ” are used by MoO.
Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: [email protected], Skype ID: Ahmed Mousa Jiyad).