Iraq’s Fourth Petroleum Licensing Round

abarrelfullabarrelfull wrote on 22 Apr 2012 10:43
Tags: iraq m-east upstream

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The Petroleum Contracts and Licensing Directorate (PCLD) at the Ministry of Oil announced Thursday (20/4/2012) that Iraq’s Fourth Petroleum Licensing Round will take place as scheduled on May 30-31, 2012. The Final Tender Protocol and the final model Exploration, Development and Production Service Contract (EDPSC) were sent Thursday to all prequalified companies. The final list of prequalified companies includes a total of 47 entities, split between operators and non-operators.

“We are happy to announce that the next bid round is on schedule. The Final Tender Protocol and the definitive model Contract have been issued to all prequalified companies” said Abdul Mahdy Al-Ameedi, director general of the PCLD.

Iraq is offering 12 large exploration blocks of an average size of 6,500 square kilometers for bidding. Winning companies, or consortia of companies, will carry out exploration, appraisal, development and production activities within the 12 Contract Areas.

The aim of the fourth round is primarily to expand Iraq’s natural gas production capacity to satisfy the power generation sector and create gas-based industries, as well as increase the country’s oil reserves.

“We are looking forward to welcoming all participating companies in Baghdad. The fourth licensing round will be conducted in a transparent and public manner and according to the same procedures as the first three rounds,” Al-Ameedi said.

Since launching the first licensing round in 2008, Iraq has awarded 14 service contracts for the development of discovered oil and gas fields in three licensing rounds in addition to the Ahdeb contract. It also signed a major joint venture with a consortium of Royal Dutch Shell and Mitsubishi to capture and monetize associated natural gas produced in southern Iraq.

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