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UPDATE 1-Iraq plans second bidding for oil contracts in Dec

Mon Oct 6, 2008 11:19pm IST
 
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By Mariam Karouny

BAGHDAD, Oct 6 (Reuters) - Iraq will accept offers for a first bidding round for long-term contracts for six oilfields and two gas fields in March 2009, its oil minister said on Monday.

Hussain al-Shahristani said in an interview that Iraq was also planning to announce a second bidding round for long-term oil contracts in December 2008. The first bidding round was announced in June this year.

"We are working on announcing the second round of bidding in the last month of the year -- December," he said.

"So far we did not announce which oilfields will be included, but in December when we announce the bidding we will announce the fields as well."

"The list is not finalised, there is still a field or two that we have not decided on and we are still discussing. It's all going to be explored fields and giant fields."

Shahristani will meet in London on Oct. 13 with 35 oil companies qualified to participate in the first bidding round, which covers the Rumaila, Kirkuk, Zubair, West Qurna Phase 1, Bai Hassan and Maysan oilfields, and the Akkas and Mansuriya gas fields.

He said the criteria for bidding would be based on the cost of halting output decline, boosting output and maintaining long-term output.  Continued...

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