NEWS ROUNDUP

摘要

Iraq has prequalified five oil companies to take part in its bid round for nine prospective blocks on the country's borders with Iran and Kuwait. Another 21 companies, including all the major international oil companies (IOCs) currently operating in southern Iraq, are also eligible to take part, having qualified for previous licensing rounds in the country. Iraq has vowed to introduce new contract terms as it seeks to attract fresh upstream investment and raise production capacity (EIF Nov.29' 17). It has not awarded any new acreage since a disappointing bid round in 2012. Results of the upcoming bid round will be crucial in determining whether the country can achieve its goal of lifting production to 6 million b/d. Experts say that in order to secure sufficient interest from IOCs, the Ministry of Oil will have to offer them far more favorable terms than those in the existing technical services contract. The five prequalifed companies named by the ministry are Dana Gas and Dragon Oil, of the United Arab Emirates, Shanghai-listed Geo-Jade Petroleum Corp., oil-field services giant Schlumberger and Russia's state-owned Zarubezhneft. Baghdad is inviting companies to submit feedback on the initial draft of the new contract between Feb. 15 and Mar. 15. The final contract and tender protocol are to be issued by mid-April, with the bidding process scheduled for May 7. Observers doubt that Iraq will provide sufficient incentive to boost exploration efforts and significantly increase the country's oil and gas reserves.