AFP - Iraqi Oil Minister Hussein al-Shahristani opened an international auction of three gas fields on Tuesday, saying the energy sector could jump-start the economy by creating jobs and providing much-needed electricity.
Iraq on Thursday invited international energy firms to submit bids for a September 1 auction of three of its gas fields, in the war-torn country's third major attempt to develop its oil and gas sector."We expect to receive the offers and we will open them on September 1," Oil Minister Hussein al-Shahristani told reporters in Baghdad.Since November, Baghdad has signed contracts with foreign firms to develop 10 oil fields around the country, with the aim of raising its output, currently at 2.4 million bpd, to between 10 and 12 million bpd.
NEW DELHI: India will kick off an auction of 67 small oil and gas fields on May 25 that will test the response of investors to recent policy measures such as the revenue-sharing model and gas pricing freedom. The Directorate General of Hydrocarbons (DGH), the technical arm of the oil ministry, has announced on its website that oil minister Dharmendra Pradhan will launch the discovered small fields bid round on May 25 in Delhi.
Japan's trade minister has expressed interest in cooperating with Iraq on nuclear energy, the Iraqi interim electricity minister said on Monday after talks in Baghdad."We discussed this issue with the Japanese minister, and he desires to cooperate with Iraq in this field," Hussein al-Shahristani said at a joint news conference with Akihiro Ohata, asked if they discussed nuclear energy."Iraq will study developing its peaceful nuclear industry," Shahristani said.
Iraq awarded two gas fields at a major international auction on Wednesday that the oil minister said was key to boosting the economy.The largest of the three fields up for sale went to a Kazakh and Korean consortium while the smallest went to a Turkish and Kuwaiti joint venture.The Korean Gas Corporation of South Korea and Kazakhstan's KazMunaiGaz won the 50-50 joint venture to develop the Akkaz field, in Anbar province west of Baghdad, which has reserves of about 158 billion cubic metres (5.6 trillion cubic feet).
Iraq awarded to a Kazakh and Korean consortium the first and largest of three gas fields up for sale at an international gas auction on Wednesday that the oil minister said was key to boosting the economy.The Korean Gas Corporation of South Korea and Kazakhstan's KazMunaiGaz won the 50-50 joint venture to develop the Akkaz field, in Anbar province west of Baghdad, which has reserves of about 158 billion cubic metres (5.6 trillion cubic feet).
MUMBAI: Kicking off the first roadshow for auctioning 46 discovered small oil and gas fields, Union Oil Minister Dharmendra Pradhan today expressed confidence of getting good response for the blocks which are being sold with least conditionalities.
Promising a transparent regulatory regime and greater ease of doing business, the minister said the current auction, as also the recently announced Hydrocarbon Exploration and Licensing Policy (HELP), are both significant improvements over the previous NELP regime.
MUMBAI: Government is putting up for auction nearly four dozen small oil and gas fields in the first such sale in six years, the country's oil ministry said in a newspaper advertisement on Tuesday. A successful auction of the small oil and gas fields is seen as crucial to a recently announced hydrocarbon policy, which India hopes will unlock energy resources worth $40 billion by simplifying rules and offering pricing incentives.
NEW DELHI: The government is planning to begin the process to auction marginal oil and gas fields in a month after delaying it for several months due to lower oil prices, an oil ministry official has said. The oil ministry will hold a meeting next week to finalize a timeline for the auction, after which officials will begin a roadshow, showcasing small discovered fields to potential investors, the official said.