Iraq could re-auction oilfields in late 2009

Senior oil official says a decision yet to be made on five fields

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A senior Iraqi oil official has said that up to five of the country’s oilfields that failed to be awarded during the first oil and gas auctions could be re-offered later this year.

Reuters reported that Sabah Abdul Kadhim from Iraq's Petroleum Contract and Licencing Directorate said that a decision on the fields would be taken in either October or November.

"The Oil Ministry is studying whether to re-offer some of the fields to give qualified oil firms a second chance," Reuters reported Kadhim as saying.

"It's only a study, we may decide to re-tender these fields and we may not," he added.

The first auction for the rights to develop Iraq’s hydrocarbon assets resulted in only one award being made – the super giant Rumaila field went to a BP-led consortium.

 

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