Home
Baghdad to allow Korean companies to participate in the licensing round after the sale of its stake in Kurdistan
09/02/2012 16:57
Erbil, February 9 (Rn) - The Iraqi Oil Ministry said Thursday that it allowed the company S. K Innovations to participate in the licensing round, the fourth of the concessions after it sold its South Korean company for its stake in an oilfield in the Kurdistan Region to the National Oil Company of Korea.
Baghdad and barred companies that have signed agreements with the Kurdistan Regional Government to participate in the fourth round of licensing, which is due to take place at the end of May next.
The department said petroleum contracts and licensing in the oil ministry said in a statement reported by Reuters, "delay the rehabilitation of the company ... it was because of their participation in the share holding of the PSAs with Bazian area of Kurdistan Regional Government without the consent of the Federal Government."
Baghdad said the ABS. K Innovations can participate in the fourth round for oil and gas licenses after it transferred its stake in the Bazian area of Kurdistan to the Korean National Oil Company.
Iraq and prevent MSN. K Innovations to participate after receiving exploration rights of the county in an oil field in 2007. Baghdad also has ruled out U.S. oil company Hess Corp. to participate in last September for the same reason.
And the Kurdistan region signed oil contracts with international companies to develop fields, but Baghdad has rejected it and the contracts are "void."
And injects the Kurdistan region of about 200 thousand barrels of oil a day in the line connecting the Kirkuk Iraqi port of Ceyhan, Turkey, Iraq, while the production of about 3 million barrels per day, and he makes about 2.2 million barrels a day.
And the growing tension between the two sides in recent weeks because of a draft oil law and the contract entered into by the U.S. giant Exxon Mobil with the territorial Government to explore for oil and gas in the six regions.
Baghdad has signed contracts with major oil companies to develop oil fields after two rounds of licensing in 2009. And systems for licensing round Iraq gas fields in 2010.
It is expected to focus on the tours in the future untapped gas reserves in the country, but has repeatedly postponed the next round is now expected to be held on 30 and 31 May.
Iraq has the fourth-largest oil reserves in the world. The estimated reserves of gas at about 112 trillion cubic feet and occupies tenth place worldwide according to data from U.S. Department of Energy.
Open: Abdullah Sabri
[You must be registered and logged in to see this link.]
09/02/2012 16:57
Erbil, February 9 (Rn) - The Iraqi Oil Ministry said Thursday that it allowed the company S. K Innovations to participate in the licensing round, the fourth of the concessions after it sold its South Korean company for its stake in an oilfield in the Kurdistan Region to the National Oil Company of Korea.
Baghdad and barred companies that have signed agreements with the Kurdistan Regional Government to participate in the fourth round of licensing, which is due to take place at the end of May next.
The department said petroleum contracts and licensing in the oil ministry said in a statement reported by Reuters, "delay the rehabilitation of the company ... it was because of their participation in the share holding of the PSAs with Bazian area of Kurdistan Regional Government without the consent of the Federal Government."
Baghdad said the ABS. K Innovations can participate in the fourth round for oil and gas licenses after it transferred its stake in the Bazian area of Kurdistan to the Korean National Oil Company.
Iraq and prevent MSN. K Innovations to participate after receiving exploration rights of the county in an oil field in 2007. Baghdad also has ruled out U.S. oil company Hess Corp. to participate in last September for the same reason.
And the Kurdistan region signed oil contracts with international companies to develop fields, but Baghdad has rejected it and the contracts are "void."
And injects the Kurdistan region of about 200 thousand barrels of oil a day in the line connecting the Kirkuk Iraqi port of Ceyhan, Turkey, Iraq, while the production of about 3 million barrels per day, and he makes about 2.2 million barrels a day.
And the growing tension between the two sides in recent weeks because of a draft oil law and the contract entered into by the U.S. giant Exxon Mobil with the territorial Government to explore for oil and gas in the six regions.
Baghdad has signed contracts with major oil companies to develop oil fields after two rounds of licensing in 2009. And systems for licensing round Iraq gas fields in 2010.
It is expected to focus on the tours in the future untapped gas reserves in the country, but has repeatedly postponed the next round is now expected to be held on 30 and 31 May.
Iraq has the fourth-largest oil reserves in the world. The estimated reserves of gas at about 112 trillion cubic feet and occupies tenth place worldwide according to data from U.S. Department of Energy.
Open: Abdullah Sabri
[You must be registered and logged in to see this link.]
