Tag Archives | 4th round oil licences

Presentation on Iraq's Oil Service Contracts & Bidding Rounds

Mr. Abdul Mahdy Al-Ameedi, the Director General of Petroleum Contracts and Licensing Directorate (PCLD), delivered a presentation to the Iraqi parliament on 13th December 2015 on the subject of Iraq's oil service contracts and bidding rounds. The presentation (in Arabic) provides an excellent comparison between the Ministry’s Service Contracts and Production Sharing Contracts of the […]

PPL Starts Exploration Work at Block 8

By John Lee. Pakistan Petroleum Limited (PPL) has started development and exploration of gas Block 8, according to a report from Pakistan Today. Iraq signed the final contract with the company in November, giving it the right to explore an area of 6,000 sq km in the Diyala and Wassit provinces in eastern Iraq. PPL […]

Iraq Expels Turkey's TPAO, asks Kuwait Energy to Replace

By John Lee. The Iraqi cabinet has expelled Turkey's state-owned Turkiye Petrolleri AO (TPAO) from the consortium that was granted the rights to explore energy block 9, and has asked Kuwait Energy to take over the shareholding. Abdul Mahdi Al Ameedi, director of the oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD), said: "For reasons […]

Pakistan Petroleum Signs Contract for Block 8

By John Lee. Iraq has signed a final contract with Pakistan Petroleum Limited (PPL), giving it the right to explore gas Block 8, covering an area of 6,000 sq km in the Diyala and Wassit provinces in eastern Iraq. During the signing ceremony, Iraq's deputy oil minister, Ahmed al-Shamma, said "developing exploration block 8 could […]

Cabinet Approves 3 Energy Deals, Delays 1

By John Lee. Iraq's cabinet has approved three oil and gas contracts awarded to foreign firms in the 4th round energy auction in May. Government spokesman Ali al-Dabbagh (pictured) said cabinet approved an initial gas exploration contract with Pakistan Petroleum for gas Block 8, another deal led by Russia's Lukoil along with Inpex of Japan […]

Iraq to make Gas Exploration Deals more Attractive

By John Lee. An Iraqi Oil Ministry spokesman has said the Ministry will make future energy exploration contracts more lucrative, to encourage foreign firms to compete in auctions for exploration blocks. "Economic and financial aspects will be reviewed in light of our experiences", said Assem Jihad. "The final details of the contracts will be worked […]

Iraq to Offer Better Terms for Oil Contracts

By John Lee. Iraq's Deputy Prime Minister with responsibility for energy affairs, Hussein al-Shahristani (pictured), has reportedly said that Baghdad was considering offering foreign oil firms more lucrative contracts. According to a report from Aswat al-Iraq, he admitted that the recent fourth auction of exploration blocks had not been as successful as officials had hoped. […]

Iraq Signs Energy Exploration Contracts

By John Lee. Iraq signed the gas exploration contract with Pakistan Petroleum Ltd. (PPL) on Sunday for gas Block 8, which lies in the Diyala and Wassit provinces in the East of the country. Meanwhile on Monday, a consortium led by Kuwait Energy signed the contract for oil Block 9, having bid fee of $6.24 […]

Russia's Bashneft wins Iraqi Energy Contract

Russian oil giant Bashneft has been award the rights to explore for oil in the south of the country after nearly one month of negotiations, a senior Baghdad official said on Sunday, according to a report from Bloomberg. This brings the total number of Russian companies with oil deals in Iraq to three. During Iraq's […]

Call for More Attractive Terms for Iraqi Exploration Licences

Lord Howell of Guildford, UK Minister of State for the Foreign and Commonwealth Office, speaking at CWC‘s Iraq Petroleum 2012 conference in London, said the terms of offer for the next round of energy licences must be considerably better than those for the fourth round which concluded at the end of May. "The results of […]

Iraq’s Fourth Bid Round: Assessment Of The Outcome

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After many postponements, Iraq’s fourth bid round took place on 30-31 May 2012. Twelve exploration blocks were offered, but only three were awarded. With two-thirds of the offered blocks receiving no bid, […]

Iraq's 4th Energy Licensing Round – Success or Failure?

Nearly a week has passed since the finalisation of Iraq's fourth round of oil licences, this time relating to oil and gas exploration blocks. In the meantime, the debate has rumbled on regarding the results of the auction, with some regarding it as a success and others as a failure. Among the professionals, the consensus […]