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Fourth Licensing Round in Iraq, results announced June 2012
The Petroleum Contracts and Licensing Directorate of the Ministry of Oil (www.pcldiraq.com) held the Fourth Iraqi Licensing Round on the 30-31 May 2012. The Fourth Licensing Round was announced in April 2011 with the submission of bids broadcast live on state television. Twelve areas where offered in the round, covering a total of 80,700 square kilometres. A total of 47 companies were pre-qualified for the bid round, amongst them were BP, Shell and Total.
Bids were made on four blocks by 11 companies, Bashneft, Premier Oil, Lukoil, Inpex Corporation, Kuwait Energy, Turkiye Petrolleri Anonim Ortaligi (TPAO), Dragon Oil, Japex, Itochu, Pakistan Petroleum and PetroVietnam. Only three blocks were awarded, Block 8 was awarded to Pakistan Petroleum, Block 9 to a consortium of Kuwait Energy, TPAO and Dragon Oil and Block 10 to Lukoil and Inpex. A bid was also received for Block 12, but this was not awarded as the remuneration fee bid was higher than the maximum remuneration fee.
| Blocks offered in Iraqi 4th Licensing Round | |||
|---|---|---|---|
| Blocks | Acreage (sqkm) | Bidders | Awarded |
| Block 1 | 7300 | No bids submitted | No bids submitted |
| Block 2 | 8000 | No bids submitted | No bids submitted |
| Block 3 | 7000 | No bids submitted | No bids submitted |
| Block 4 | 7000 | No bids submitted | No bids submitted |
| Block 5 | 8000 | No bids submitted | No bids submitted |
| Block 6 | 9000 | No bids submitted | No bids submitted |
| Block 7 | 6000 | No bids submitted | No bids submitted |
| Block 8 | 6000 | Pakistan Petroleum (100%) | Pakistan Petroleum (100%) |
| Japex (80%) Itochu (20%) | |||
| Block 9 | 900 | Kuwait Energy (40%) TPAO (30%) Dragon Oil (30%) |
Kuwait Energy (40%) TPAO (30%) Dragon Oil (30%) |
| Block 10 | 5500 | Lukoil (60%) Inpex (40%) | Lukoil (60%) Inpex (40%) |
| Kuwait Energy (50%) Dragon Oil (50%) |
|||
| PetroVietnam (36%) Bashneft (30%) Premier Oil (34%) |
|||
| Block 11 | 8000 | No bids submitted | No bids submitted |
| Block 12 | 8000 | PetroVietnam (30%) Premier Oil (40%) Bashneft (30%) |
No bids awarded |
Blocks awarded in the 4th Iraqi Licensing Round. Source: PetroView®
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