Iraq Ministry of Oil Offers 12 Oil Fields For the Development & Investment

Source: www.gulfoilandgas.com 10/30/2016, Location: Middle East

The ministry of oil announced to offer 12 medium size oil fields to be invested and developed in the middle & south of Iraq. Mr. Jabbar A. Allibi the minister of oil said that the ministry of oil invited the qualified companies to contribute and compete on the development of the oil fields in the governorates of Basra, Maysan and the middle governorates. And said also that the development is going to be in the fields of Sindbad, Um-Qasr, Raji and Abu-Khayma in Basra, as well as Deema & Dujaila in Maysan governorate. In addition to the fields of Mirjan, Kifl and West Kifl in the middle Euphrates.

Mr. Allibi said also that the ministry is going to offer the contracts of the oil fields development to the previously qualified companies individually or as consortiums. He said also that the development operations will be according to two stages and stress on the appropriate investment for the associated gas.

The director general of the petroleum and contracts directorate said that his directorate offered the necessary data about the fields as a bag of information delivered to the qualified companies whom are aiming to participate. While the un-qualified companies whom are aiming to contribute should present their documents about the technical & financial capabilities and their trusted legal situation, in addition to the health, safety, environmental, and security situation within a time table until the 30th of November 2016 in order to gain the qualification.

He said also that the companies whom are aiming to participate needs to present their on suggestions about the contracting formula and the commercial & financial forms to the petroleum contracts & licensing directorate in the ministry of oil.

Mr. Assim Jihad the spokesman of the ministry said that the ministry will refer the field development contracts to the direct bilateral negotiations between the ministry and the companies after the agreement on the conditions and rules of the contracts. He said also that the winner companies will also provide the funding, experiences, new technology, equipment, machinery and the other services with the confirmation to employ the Iraqi workers.

It is worthy to mention that the qualified companies are from different nationalities such as the Arab, European, Asian and western.


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