Gulf Oil and Gas accountACCOUNT

Bai Hassan Contract Area - Bidding Results

Source: www.gulfoilandgas.com 7/2/2009, Location: Middle East

Share |
The Petroleum Contracts and Licensing Directorate of the Ministry of Oil is pleased to announce the results of bidding for the Bai Hassan Contract Area.

One bid was received from a consortium of ConocoPhillips, CNOOC and Sinochem. However, the Remuneration Fee Bid was in excess of the Maximum Remuneration Fee (MRF) of US$ 4.00 per barrel set by the Ministry of Oil. The company/consortium declined the opportunity to match the MRF set by the Ministry of Oil. In accordance with the protocol for the bidding process consortia had the opportunity to match the MRF, although this was declined.

A further offer was received from the ConocoPhillips consortium, details of which are also given below.

Following a meeting of the Cabinet on July 1 this additional offer was considered, but a decision was made not to award the Bai Hassan Contract Area at this time.

The bid originally placed was:
Consortium: ConocoPhillips Iraq Ltd (50%), CNOOC Limited (30%), Sinochem Corporation (20%)
Plateau Production Target (Bopd): 390,000
Remuneration Fee Bid (US$/Bbl): 26.70
Points Rank: 100.0

The additional bid was:
Consortium: ConocoPhillips Iraq Ltd (50%), CNOOC Limited (30%), Sinochem Corporation (20%)
Plateau Production Target (Bopd): 390,000
Remuneration Fee Bid (US$/Bbl): 20.20

Oil Field Services News in Iraq >>

Saudi Arabia >>  8/15/2018 - Jacobs Engineering Group Inc. has received a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company (SATORP) for its sub...
Iraq >>  8/13/2018 - Petrofac has been awarded a contract worth around US$370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), lo...

United Arab Emirates >>  8/7/2018 - A group of Emirati employees, from the Abu Dhabi National Oil Company (ADNOC), has become the first group of trainees to start a two year professional...
Iraq >>  8/5/2018 - Baker Hughes, a GE company has been awarded a contract by the South Gas Company of Iraq (SGC) for fast-track solutions to help the recovery of flare g...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |

Oil & Gas Projects in Iraq >>

More News

 

Oil & Gas Companies in Iraq >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.