OPERATIONS

Iraq: Foreign companies welcome

For those companies with comprehensive insurance cover, Iraq’s Oil Ministry has called for bids to increase production from existing oil fields in Kirkuk and at the South and North Rumaila fields.

In a statement the Director General of the State Company for Oil Projects Ahmed al-Shamma said, “International companies were approached by the oil ministry’s reservoir department to do engineering studies. The contracts [will] be the first to be undertaken on the country’s main oil producing fields since the 1980s. These are very old fields [and] we’re checking on present production [as] we want to optimise production.”

“Fix-up work [will] continue for an estimated two years. Companies have until July 29 to submit tenders for equipment and materials [and] the ministry is analysing company offers and should make a decision in late September-early October,” added Ahmed.

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