IOCs happy with Nassiriya terms
After months of solicitation, the Iraqi Oil Ministry has produced a contract model that IOCs appear happy with, though the real test will be at the bidding round.
Workers from Iraq's South Oil Company ready pipes for the expansion of the Nassiriya oil field. (STAFF/Iraq Oil Report)
Oil companies appear to be optimistic that the model contract for a major oil field and refinery project in Nassiriya could represent an investor-friendly shift for Iraq's Oil Ministry.
In contrast to the ministry's first four bidding rounds, the new joint project – to develop the Nassiriya oil field and a nearby refinery – has attracted praise from some of the companies that have been pre-qualified for the bidding, now scheduled for Jan. 23.
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