By John Lee. Irish-based Petrel Resources last week issued unaudited preliminary results for the year ending 31 December 2024. The company, which announced a fundraising in March, said that it has submitted a proposal to undertake contractor obligations on a relinquished block from Iraq's 4th Bid Round, and has also prepared an updated development plan […]
By John Lee. Pakistan Petroleum Limited (PPL) has announced that its subsidiary, PPL Asia E&P B.V. (PPL Asia), has received a payment of $6 million from Iraq's state-owned Midland [Middle] Oil Company (MdOC), in relation to the conclusion of its Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in in the Diyala and Wasit […]
By John Lee. Pakistan Petroleum Limited (PPL) has announced that its subsidiary, PPL Asia E&P B.V. (PPL Asia), has reached what it describes as "a mutually favourable settlement" with Iraq's state-owned Middle Oil Company, successfully concluding all matters relating to the Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in in the Diyala and […]
By John Lee. Iraq's Council of Ministers has approved a settlement terminating Pakistan Petroleum Limited (PPL)'s contract for Exploration Block 8. The recommendation to terminate came from the Ministerial Council for Energy, and involved the state-controlled PPL and the Ministry of Oil's Middle Oil Company. The settlement agreement includes closing all mutual obligations by paying […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Oil Licenses Rounds - Views of the Architect and the Technocrat, Ten Years On Petroleum licensing rounds, 2009-2010, are the most significant and impacting development that took place in post 2003 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
