Iraq adds six more oil firms to future deals list
The Iraqi Oil Ministry added six more oil companies to a list of 35 permitted to bid for future oil and gas deals, the ministry spokesman said on Sunday.
By Agencies |
BAGHDAD: The Iraqi Oil Ministry added six more oil companies to a list of 35 permitted to bid for future oil and gas deals, the ministry spokesman said on Sunday.
Assem Jihad didn't provide the company names but said they are state-owned firms from Turkey, Vietnam, Pakistan, Thailand, Angola and Algeria.
Last April, Iraq accepted 35 international oil companies out of more than 70 firms that applied to the ministry for permission to make bids.
Jihad added that the ministry is planning to issue another invitation for companies to submit their qualification documentation to compete for the development of smaller oil and gas fields.
He didn't say when the new invitation would be issued but said they would go out as soon as the ministry finished awarding the first round of tenders.
Baghdad is about to sign Technical Support Agreements, TSAs, with international oil firms to boost its current 2.5 million barrels per day output by 600,000 barrels.
The New York Times reported Thursday that Shell, BP and Exxon Mobil and Total were the four major companies close to signing deals, along with Chevron and some smaller companies.
Iraq sits on an estimated 115 billion barrels and it also has an estimated 112 trillion cubic feet of natural gas reserves, according to the ministry - making it one of the most oil rich countries in the world.
Assem Jihad didn't provide the company names but said they are state-owned firms from Turkey, Vietnam, Pakistan, Thailand, Angola and Algeria.
Last April, Iraq accepted 35 international oil companies out of more than 70 firms that applied to the ministry for permission to make bids.
Jihad added that the ministry is planning to issue another invitation for companies to submit their qualification documentation to compete for the development of smaller oil and gas fields.
He didn't say when the new invitation would be issued but said they would go out as soon as the ministry finished awarding the first round of tenders.
Baghdad is about to sign Technical Support Agreements, TSAs, with international oil firms to boost its current 2.5 million barrels per day output by 600,000 barrels.
ADVERTISEMENT
The New York Times reported Thursday that Shell, BP and Exxon Mobil and Total were the four major companies close to signing deals, along with Chevron and some smaller companies.
Iraq sits on an estimated 115 billion barrels and it also has an estimated 112 trillion cubic feet of natural gas reserves, according to the ministry - making it one of the most oil rich countries in the world.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
