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Oil: qualify five global companies .. Two of them Emirati to invest nine border patches


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Oil: qualify five global companies .. Two of them Emirati to invest nine border patches

Post by rocky on Sat 13 Jan 2018, 1:43 am

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Oil: qualify five global companies .. Two of them Emirati to invest nine border patches

Baghdad / Range 

The Department of Contracts and Petroleum Licenses in the Ministry of Oil, on Friday, the rehabilitation of five new international companies of different nationalities out of the eight companies submitted to qualify for participation in the project of exploration, development and production of patches exploration border. 
"The five qualified companies are Dana Gas UAE, Dragon Oil, GJPC, Schlumberger Middle East, and Russia's Zarubezhneft," the oil ministry said in a statement.
The exploratory pits include water vines, Mount Sannam and FAO located on the Iraqi-Kuwaiti border. The exploratory plains located on the Iraqi-Iranian border are Sindbad and include Sindbad 1 and Sindbad 2 and Al Huweizah. They include the southern and Shihabi structures of Zweibat, Zerbatia, Zerbatia, Tariq, And the fields of Mandali, Habib, Tal Yazil, Hattab, Nazardak, Saadia, Khana, Aqaba and Naudoman), asserting that these patches fall within the land borders. The marine exploratory patches were the Gulf patch that lies within Iraqi territorial waters in the Gulf.
"The newly qualified companies will participate with the international companies qualified in the previous licensing rounds of 21 international companies of different nationalities, Arab, Asian, European and American, will participate in the competition for the project," said Assem Jihad, spokesman for the ministry. Exploration, development and production of (9) land and sea border exploratory patches ".
Jihad added that the Department of Petroleum Contracts and Licenses has adopted four basic criteria to qualify companies to participate in the competition for the project (Financial and Economic Standard, Legal Standard, Technical Standard, Training and HSE Standard). He pointed out that companies submitted their documents for the period from 15 August 2017 And until 9 November 2017, and the number of companies provided for rehabilitation (8) companies. The Jihad, that "the documents submitted by companies, have been studied by the Ministry within the controls and rules in force, and was qualified (5) companies, which applied controls." 
During his press conference in November 2017, Oil Minister Jabbar Ali Al-Luaibi reviewed joint border explorations with Kuwait and Iran. He called on all international companies to invest, participate and compete in the exploration, development and production of nine border pits. 
The Iraqi Ministry of Oil, announced on April 25, 2012, the start of the fourth licensing round for 12 exploratory areas in different parts of Iraq, stressing that the purpose of this round to strengthen Iraq's oil reserves. 
The tender conditions will be completed no later than the end of May, with the opening ceremony on June 21. 
At the same time, oil prices broke through the $ 70 barrier for the first time since 2015 despite warnings that the 13% rise since early December is nearing an end. Investors' sentiment has been supported by a sudden drop in US production and a decline in US crude inventories , According to official data Wednesday. 
Data from the US Energy Information Administration showed that crude stocks fell about 5 million barrels in the week ending January 5 to 419.5 million barrels.
The US Energy Information Administration said US oil production also fell 290,000 barrels per day to 9.5 million bpd, despite expectations that production would exceed the 10 million bpd barrier.

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