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Official: Iraq postponed the fourth round of energy contracts to May 30 to 31
[6:55] 12/Jan/31
Erbil Jan. 31 (PNA) - A senior official in oil Alaracaiams Monday postponed his tour of Iraq for the fourth award of energy contracts to May 30 to 31 May.
Prior to postpone the tour, which includes 12 new concession to explore for oil and gas several times and was the earlier date April 11 to 12 April.
Abdul-Mahdi al-Amidi, director of contracts and licenses that the ministry is the Ministry of Oil has decided to delay the fourth round to give interested companies more time to study the new contract rate.
Amidi said that Iraq undertook significant modification to the original contract with respect to the economic and contractual items resulting in a new form.
And the people of Iraq, Energy 46 companies to participate in the tour, which is expected to add to reserves of 29 trillion cubic feet of gas, ten billion barrels of oil.
37 companies and bought a packet data accompanied by the initial tender protocols during a promotional tour was held in the Jordanian capital Amman in September.
The fourth round will help Iraq to develop reserves to compensate for the lack of expected position was strengthened when it starts in the OPEC production quota of Baghdad.
Iraq has the fourth-largest oil reserves in the world. The estimated gas reserves of about $ 112 trillion cubic feet, which is the tenth largest reserves in the world, according to data from the Ministry of Energy.
Baghdad had signed contracts with major oil companies to develop oil fields after two rounds of awarding bids in 2009 and then held a round of gas fields in 2010. It is expected to focus on the following tours untapped gas resources substantially.
Amidi said to Reuters that the oil ministry will draft a preliminary contract on February 17 and will give companies a deadline to study and present its proposals before issuing the final form on 20 April.
He explained that the amendments to the contract drilling mainly related to the pricing formula and corporate profits and ways to determine their share in the contract.
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[6:55] 12/Jan/31
Erbil Jan. 31 (PNA) - A senior official in oil Alaracaiams Monday postponed his tour of Iraq for the fourth award of energy contracts to May 30 to 31 May.
Prior to postpone the tour, which includes 12 new concession to explore for oil and gas several times and was the earlier date April 11 to 12 April.
Abdul-Mahdi al-Amidi, director of contracts and licenses that the ministry is the Ministry of Oil has decided to delay the fourth round to give interested companies more time to study the new contract rate.
Amidi said that Iraq undertook significant modification to the original contract with respect to the economic and contractual items resulting in a new form.
And the people of Iraq, Energy 46 companies to participate in the tour, which is expected to add to reserves of 29 trillion cubic feet of gas, ten billion barrels of oil.
37 companies and bought a packet data accompanied by the initial tender protocols during a promotional tour was held in the Jordanian capital Amman in September.
The fourth round will help Iraq to develop reserves to compensate for the lack of expected position was strengthened when it starts in the OPEC production quota of Baghdad.
Iraq has the fourth-largest oil reserves in the world. The estimated gas reserves of about $ 112 trillion cubic feet, which is the tenth largest reserves in the world, according to data from the Ministry of Energy.
Baghdad had signed contracts with major oil companies to develop oil fields after two rounds of awarding bids in 2009 and then held a round of gas fields in 2010. It is expected to focus on the following tours untapped gas resources substantially.
Amidi said to Reuters that the oil ministry will draft a preliminary contract on February 17 and will give companies a deadline to study and present its proposals before issuing the final form on 20 April.
He explained that the amendments to the contract drilling mainly related to the pricing formula and corporate profits and ways to determine their share in the contract.
[You must be registered and logged in to see this link.]
