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Continued Business Risks Prompt Mellower Terms for the Upcoming Oil and Gas Auctions in Iraq

  • Publication Date:May 2011
  • Publisher:GlobalData
  • Product Type: Report
  • Pages:5

Continued Business Risks Prompt Mellower Terms for the Upcoming Oil and Gas Auctions in Iraq

Summary

Iraq's Ministry of Oil plans to auction 12 oil and gas exploration blocks in January 2012. This would be the fourth auction round in Iraq since 2009, where foreign oil and gas firms would primarily bid for exploration blocks. Iraq's government has continued to relax - slightly - the contract terms in each bidding round since the first round. For the fourth round, contract terms are likely to be relaxed further. Relaxation in contract terms would be driven by the fact that investment in Iraq continues to remain subject to business risks related to infrastructure and bureaucracy. Besides, uncertainties related to size of reserves and legal validity of contracts would further accentuate the need to relax the contract terms.

Scope

  • Throws light on the oil and gas blocks on offer in the upcoming auction round in Iraq
  • Analyzes the past trend in the previous bidding rounds regarding the terms between the bidders and Iraq's government and assesses how the relation between the two parties has evolved
  • Provides information on what kind of contract terms can be anticipated from the Iraq's government for the fourth auction round that is scheduled in January 2012.

Reasons to buy

  • Keep abreast with the Iraq government's internal situation while it goes for the fourth round of auction.
  • Develop understanding about the factors affecting Iraq as an investment destination.
  • Know about the blocks on offer and the nature of contract terms that can be expected from the government
  • 1 Table of Contents
    • 1.1 List of Tables
  • 2 Summary
  • 3 Continued Business Risks Prompt Mellower Terms for the Upcoming Oil and Gas Auctions in Iraq
    • 3.1 Prior Oil and Gas Auction Rounds in Iraq Witnessed Increasing Comfort Levels Between Investors and Iraqi Government Since the First Round
    • 3.2 Bureaucracy and Infrastructure Continue to be Key Challenges Associated with Investment in Iraq
    • 3.3 Iraq's Fourth Licensing Round - Auction of Unexplored Fields and Concerns Over Legal Validity of the Resulting Contracts Leading to Mellower Terms
  • 4 Appendix
    • 4.1 Abbreviations
    • 4.2 Methodology
    • 4.3 Contact Us
    • 4.4 Disclaimer
    • 1.1 List of Tables
      • Table 1: Iraq, Contracts Awarded in the Second Licensing Round, 2009
      • Table 2: Iraq, Contracts Awarded in the Third Licensing Round, 2010
      • Table 3: Iraq, Comparison of Key Contract Terms in the Previous Three Auction Rounds*
      • Table 4: Iraq, List of Exploration Blocks on Offer in the Fourth Auction Round
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