Iraq: Juniors fail to prequalify for fourth oil round

By OGJ editors

Petrel Resources PLC, Dublin, said the company failed to prequalify to participate in Iraq’s fourth oil license round.

The participation criteria adopted by Iraqi authorities were heavily weighted towards financial size and strength rather than practical experience working in Iraqi conditions, Petrel explained. As a result no juniors or smaller independents qualified. Qualifying were supermajors, many national oil companies, and some large international independents.

Petrel will continue direct discussions with the Ministry of Oil on its existing interest in Block 6, a 10,000 sq km, lightly explored area in the eastern part of Iraq’s Western Desert. The company believes the block, which it has pursued since 2002, is highly prospective.

The company said it will also seek direct negotiations on smaller fields that have not been awarded in the bid rounds.

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin

03/19/2014

CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal

03/19/2014

FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected