December 16, 2009 / 12:53 PM / 10 years ago

FACTBOX-Iraq signing schedule for 2nd bid round oil deals

Dec 16 (Reuters) - Iraq has 10 oil deals in the pipeline after two tenders this year for contracts to develop its vast oilfields, the first such auctions since the 2003 U.S. invasion.

The deals with global oil majors put Iraq on the path to more than quadruple oil pumping capacity to 12 million barrels per day, rivalling the world’s top producer Saudi Arabia.

The second auction ended on Saturday, and seven oilfields of the 10 offered were awarded to oil companies for development.

The Oil Ministry said on Wednesday that winning firms would sign initial agreements between Dec. 20 and Dec. 30, before the deals are sent for cabinet approval. After that, the final deals will be signed.

The following is an initial signing schedule from the Oil Ministry. For the related story, click [ID:nLDE5BF16B].


Royal Dutch Shell (RDSa.L), Europe’s largest oil company, and Malaysia’s state-run Petronas [PETR.UL] won the rights in the second auction to develop the supergiant field near the southern oil hub of Basra.

Majnoon has reserves of 12.6 billion barrels, making it one of the world’s largest untapped oilfields. Shell has a 60 percent stake in the consortium, while Petronas holds the rest.


A smaller oilfield with 900 million in reserves, Gharaf was won by Petronas and the Japan Petroleum Exploration Co (Japex) (1662.T) in a fierce competition in the second round. The companies’ share of the venture is split 60-40.


China National Petroleum Company (CNPC), Total (TOTF.PA) and Petronas won the contract in the second round for Halfaya. CNPC owns 50 percent of the venture, while Total and Petronas hold 25 percent stakes. Halfaya, in southern Iraq, has estimated reserves of 4.1 billion barrels of oil.


Badrah oilfield near Iraq’s border with Iran, a 100 million barrel reservoir, went to a group led by Russia’s Gazprom (GAZP.MM). Gazprom, with a 40 percent stake, is partnered by Turkey’s TPAO with 10 percent, Korea’s Kogas (036460.KS) at 30 percent, and Petronas with 20 percent.


Russian energy giant Lukoil (LKOH.MM) and Norway’s Statoil STL.OL won the rights to West Qurna Phase Two, a 12.9 billion barrel supergiant oilfield in the south of the country.

Lukoil has an 85 stake in the venture, Statoil the rest.


Situated in violent Nineveh province, where Sunni insurgents like al Qaeda remain active, the 800 million barrel Qayara field south of the provincial capital Mosul was won by Angolan state oil firm Sonangol. The firm also won the nearby 900 million barrel Najmah oilfield, also in Nineveh. (Compiled by Mohammed Abbas: Editing by Sue Thomas)

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