Iraq to launch gas field auction
Friday, 7 May 2010
BAGHDAD, May 6 (AFP): Iraq is set to call for bids from energy firms to develop its gas fields, the oil ministry said yesterday, as the war- ravaged country seeks new revenue sources to rebuild its battered economy.
A report last month in the Middle East Economic Survey (MEES), a regional oil and gas newsletter, said Iraq will offer three gas fields with more than 7.5 trillion cubic feet (tcf/210 billion cubic metres) of combined proven non-associated, or free gas reserves.
They are the 4.5 tcf (trillion cubic feet) Akkaz field in the western province of Anbar, the Mansuriya field in Diyala with three tcf and Sibba field in Basra with 60 billion cubic feet, MEES said, adding that 15 firms have been pre- qualified and invitations will be issued soon.
Akkaz and Mansuriya were offered in a round of bidding on oil fields last June but were not awarded.
French oil giant Total has already said it would "definitely" participate in the gas bid round.
Last year, Iraq awarded international oil majors contracts to develop 10 large oil fields in an attempt to ramp up its crude production capacity to 12 million barrels per day by 2017, from around 2.5 million bpd.
A report last month in the Middle East Economic Survey (MEES), a regional oil and gas newsletter, said Iraq will offer three gas fields with more than 7.5 trillion cubic feet (tcf/210 billion cubic metres) of combined proven non-associated, or free gas reserves.
They are the 4.5 tcf (trillion cubic feet) Akkaz field in the western province of Anbar, the Mansuriya field in Diyala with three tcf and Sibba field in Basra with 60 billion cubic feet, MEES said, adding that 15 firms have been pre- qualified and invitations will be issued soon.
Akkaz and Mansuriya were offered in a round of bidding on oil fields last June but were not awarded.
French oil giant Total has already said it would "definitely" participate in the gas bid round.
Last year, Iraq awarded international oil majors contracts to develop 10 large oil fields in an attempt to ramp up its crude production capacity to 12 million barrels per day by 2017, from around 2.5 million bpd.