Iraq Awards Two More Blocks

摘要

Oil firms showed a bit more interest in a second day of bidding in Iraq’s fourth licensing round -- when two further blocks, contested by five consortia, were awarded -- but the effort was still widely regarded as a flop, with only three of 12 blocks in total awarded (OD May31’12). In bidding on Thursday, Russian Lukoil with Japan’s Inpex took the oil-prone Block 10 with a remuneration fee of $5.99/bbl, beating Kuwait Energy- and Petrovietnamled groups. Pakistan Petroleum outbid a Japex-Itochu partnership to take gas Block 8 with a remuneration fee of $5.23/bbl -- making it the only gas block of seven on offer to attract any interest. Block 9, to a Kuwait Energyled group, was the sole award on Wednesday.