Iraq asks for new bids to develop oil field

Dec 27, 2004 01:00 AM

Iraq's oil ministry has called for new bids to develop an oil field in the war-torn country, a major setback for the Canadian company that appeared to have won the contract, a top executive with the firm said.
OGI Group, a privately held exploration, development and oil field service company, had been successful in its tender to develop the Himrin field, and was awaiting final approval when it was told of the new bidding round, the executive said.

"We won it, but it seems the ministry themselves, they yielded to certain pressures, unknown pressures, so they decided to ask the bidders to resubmit their bids," the Calgary-based official told. "It's totally against any international and Iraqi procedures for bidding processes."
If approved by the government, the agreement, along with another deal to develop the Khurmala Dome field, would have been Iraq's first oil deals with foreign companies in the post-war era.

OGI, which also has offices in Iraq, Yemen and the United States, had submitted a thorough project plan based on several years of research into the field, which has a production capacity estimated at 80,000 bpd, the official said.
"We are in total shock. We just couldn't believe this," he said. OGI has not decided if it will resubmit its own bid.

Source: PetroEnergy Information Network
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« February 2020 »
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29

Register to announce Your Event

View All Events