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Iraq’s Second Licensing Round – Will the Government’s Strategy to Offer Giant Fields Attract Multinationals?
GlobalData, Oct 2009, Pages: 27
Iraq announced the opening of the second licensing round in December 2008. In this round, Iraq is offering 10 projects covering more than a dozen fields for development. The largest fields being offered in the second licensing round are the West Qurna-Phase 2 and Majnoon fields which may hold up to 12.9 billion barrels and 12.6 billion barrels of oil reserves, respectively. However, the terms of the contracts in the second bidding round revealed so far seem broadly similar to those in the first. Unfavourable terms, lack of security and an oil law may act as deterrents for the International oil companies planning to invest in Iraq. Nevertheless, 115 billion barrels of proved reserves and huge future potential will continue to allure companies to enter into the country.
Scope
- Top level market sizing information for the oil and gas industry in Iraq
- Review of the giant oil fields on offer in the second round of licensing
- Oil reserves and production in Iraq during 1998-2008
- Comparison of the Top 10 crude oil nations of 2008
Reasons to buy
- Develop business strategies with the help of specific insights on the key events happening in the oil and gas industry.
- Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today
- Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry
- Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events
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Positive Response To Iraq's Second Licensing Round Paves The Way For Its Leading Role In The Global Oil Industry
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