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Energy

Iraq races to finalize oil deals ahead of elections

Sudani administration activates a major contract with BP and strikes preliminary agreements with ExxonMobil and Chevron as national elections near and deal-making window starts to shut.
Iraqi Prime Minister Mohammed Shia al-Sudani (standing, center), BP CEO Murray Auchincloss (standing, left), and Oil Minister Hayyan Abdulghan (standing, right) oversee the signing of a deal for BP to rehabilitate Kirkuk oil fields and build gas processing and power generation infrastructure at a ceremony in Baghdad on March 26, 2025. (Photo credit: Prime Minister's Office)
Dec 13, 2009

Complete Round 2 results

Here's the field by field recap of winners, losers and details of the fields international companies now have deals to develop.

Dec 13, 2009

Lukoil is back, wins West Qurna

Lukoil is returning to Iraq's West Qurna oil field, which it had a previous contract for developing under Saddam Hussein.

Dec 12, 2009

Sonangol takes Najmah

Sonangol, the sole bidder, takes Najmah oil field for a $6 per barrel remuneration fee and a production target of 110,000 barrels per day. The Najmah field is located in Nineveh province, in between Mosul and Baiji. It was discovered in 1934 and has 33 wells drilled thus far with an estimated 900 million barrels […]

Dec 12, 2009

No bids for Middle Furat fields

No bids have been made for the Middle Furat oil fields. The Middle Furat project is three undeveloped oil fields located in Karbala province, home to one of the holiest cities in Shiite Islam. The Kifl field, discovered in 1960, West Kifl in 1987 and Merjan in 1983, total about 600 million barrels of oil. […]

Dec 12, 2009

Gazprom wins in Badra

Gazprom, alongside junior partners TPAO, Kogas and Petronas, take Badra oil field after negotiating a bid with the Ministry of Oil. The companies initially offered a $6 per barrel remuneration fee and a production target of 170,000 barrels per day (bpd). The Ministry, however, refused stating that the most they would be willing to accept […]

Dec 12, 2009

Petronas takes Garraf

Petronas and Japex the lowest of four bids for Garraf, bidding an extra 80,000 barrels per day beyond the ministry's minimum.

Dec 11, 2009

Shell steals Majnoon from Total

The Majnoon field was awarded to a Shell-led consortium after a quick bidding war with Total, the presumed favorite.

Dec 11, 2009

Halfaya field goes to China

China leads the way, taking on three competitors and winning Halfaya in Missan province, which has occasionally seen Mahdi Army but has been relatively calm.