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

INTERNATIONAL BRIEFS

01/01/1990 WESTCOAST ENERGY INC., Vancouver, B.C., agreed to buy the utilities and propane business of Inter-City Gas Corp. (ICG), Winnipeg, Man., for $720 mi...

OWNERSHIP QUESTIONS CAN STYMIE DEVELOPMENT OF COALBED METHANE

01/01/1990 Although the technology exists for commercial recovery of coalbed methane, production has been hindered because of the legal quandary as to ownersh...

OIL FLOW RISING IN E. CHINA REGION

01/01/1990 Production is building from an oil producing area in the lower reaches of the Yangtze River in eastern China's Jiangsu Province. The northern J...

GAS EXPLORATION FANS OUT MIN ARKOMA BASIN

01/01/1990 Gas exploration is heating up in the South Central Arkoma basin's pre-Pennsylvanian formations. Several operators are targeting Siluro-Devonian...

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