Iraq Finalises Contracts for latest Energy Licensing Rounds

By John Lee.

Iraq's Ministry of Oil has finalised contracts for the "fifth-plus" and sixth oil licensing rounds with the successful companies.

Minister Abdul Ghani highlighted that these agreements, which cover the development of oil and gas fields and exploration blocks across several provinces, are poised to boost Iraq's production capacity by 800-850 million standard cubic feet (mmscf) of gas and 750,000 barrels of crude oil per day.

The Minister noted Iraq's substantial plans to develop untapped exploratory blocks and undeveloped fields in upcoming rounds, with an eye toward increasing the country's reserves of both oil and gas.

According to a statement, these new projects will ensure a stable supply of fuel for power generation, petrochemical industries, and various other sectors, while also creating numerous job opportunities for Iraqi graduates, skilled workers, and craftsmen across different provinces. Collaborations with both international firms and the private sector are expected to drive local employment and economic development.

The Director General of Basra Oil Company, Mr. Bassem Abdulkarim, signed the following development contracts:

• Fao: United Energy Group (UEG)
• Jabal Sanam: Geo-Jade

The Director General of Maysan Oil Company, Mr. Hussein Kazem, signed:

• Ad Daimah: KAR Group

The Acting Director of North Oil Company, Mr. Amer Khalil Ahmed, signed:

• Alan: KAR Group
• Sasan: KAR Group

The Deputy Director General of Dhi Qar Oil Company, Mr. Saeed Saghir Shlakeh, signed:

• Sumer: Sinopec
• Addan: Sinopec [Note that the Ministry of Oil had previously announced that Sinopec bid for the Addan block, but the price was not accepted by the Ministry.]
• Abu Khema: Zhenhua Oil

The Director General of Central Oil Company, Mr. Mohammed Yaseen Hassan, signed:

• Middle Furat (Euphrates): Zhongman ZPEC
• Northern Extension of East Baghdad: Zhongman ZPEC
• Khliesiea: KAR Group
• Qurnain: Zhenhua Oil
• Zurbatiya: Geo-Jade
• Dhufriyah: Anton Oil

This announcement does not mention the signing of a contract for Block 7, which was previously announced has having been won by China National Offshore Oil Corporation (CNOOC). [Update: CNOOC announced on Wednesday 30th October, 2024, that it has entered into the Exploration, Development & Production Contract (EDPC) with Iraq's state-owned Midland Oil Company for Block 7.]

Click here to find a comprehensive list of oil and gas fields under the control of the Ministry of Oil in Baghdad. This listing covers 67 fields, and has been updated with the results of this week's fifth-plus and sixth licensing rounds. Simply click on any field in the list to find more details.

(Source: Ministry of Oil)