The numbers: gas field bidding round results

All three of Iraq's gas fields up for auction were awarded Wednesday to four international oil companies.
A representative of Kuwait Energy casts its winning bid for the Siba gas field as oil ministry leaders look on. (BEN LANDO/Iraq Oil Report)

BAGHDAD - Four companies created three different consortium to win rights to develop the Akkas, Siba and Mansuriya gas fields.

The ministry judged the bids with a two-prong bidding parameter: 90 percent of the score was given to the remuneration fee (RF), the amount per barrel of oil equivalent produced (boep) that the foreign companies are willing to accept/the ministry of oil is willing to pay. Ten percent of the score is the production plateau target (ppt), the production goal at which the winning bid will bring production to and keep it for a set amount of time.

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