BAGHDAD, July 14 (Reuters) - The Tawke oilfield in Iraqi
Kurdistan, developed by Norway's DNO International, is
producing some 40,000 barrels per day and output should reach at
least 50,000 within weeks, a top official said on Tuesday.
Kurdistan Natural Resources Minister Ashti Hawrami said
production at the Taq Taq field, jointly developed by Addax
Petroleum and Turkey's Genel Enerji, was fluctuating
from 30,000-40,000 barrels per day, sometimes dropping up to
10,000 barrels due to pipeline problems he blamed on the
state-run North Oil Company.
Hawrami also called the Iraqi Oil Ministry's first major
energy auction, which attracted top global oil and gas firms to
Baghdad last month, a "fantastic failure."
((missy.ryan@thomsonreuters.com; +964 7901 917024; Reuters
Messaging: missy.ryan.reuters.com@reuters.com))
Keywords: IRAQ/OIL KURDISTAN
Kurdistan, developed by Norway's DNO International
producing some 40,000 barrels per day and output should reach at
least 50,000 within weeks, a top official said on Tuesday.
Kurdistan Natural Resources Minister Ashti Hawrami said
production at the Taq Taq field, jointly developed by Addax
Petroleum
from 30,000-40,000 barrels per day, sometimes dropping up to
10,000 barrels due to pipeline problems he blamed on the
state-run North Oil Company.
Hawrami also called the Iraqi Oil Ministry's first major
energy auction, which attracted top global oil and gas firms to
Baghdad last month, a "fantastic failure."
((missy.ryan@thomsonreuters.com; +964 7901 917024; Reuters
Messaging: missy.ryan.reuters.com@reuters.com))
Keywords: IRAQ/OIL KURDISTAN
14/7 2009 13:46 JCBN 0
15214 (Updated)
BAGHDAD, July 14 (Reuters) - The Tawke oilfield in Iraqi
Kurdistan, developed by Norway's DNO International, is
producing some 40,000 barrels per day and output should reach at
least 50,000 within weeks, a top official said on Tuesday.
Kurdistan Natural Resources Minister Ashti Hawrami said
production at the region's Taq Taq field, jointly developed by
Addax Petroleum and Turkey's Genel Enerji, was
fluctuating from 30,000-40,000 barrels per day (bpd), sometimes
dropping up to 10,000 barrels due to pipeline problems he blamed
on the state-run North Oil Company.
"They are causing obstacles and problems for oil flowing
through the pipeline," he said.
The central government gave the go-ahead on June 1 for
Kurdish oil to be exported through a national pipeline, a step
hailed as a potential breakthrough in a six year long feud
between the Kurdish government and the Oil Ministry in Baghdad.
Iraq is aiming to boost output, now about 2.5 million bpd,
to fund rebuilding and investment desperately needed after over
six years of war -- and every little bit will help.
Hawrami did not immediately have figures for the volume of
Kurdish oil exports for June.
Since the launch of exports, tempers have flared anew over
the June 30 auction in which Iraqi Oil Minister Hussain
al-Shahristani offered eight major oil and gas fields to foreign
firms for 20-year, fixed-fee development contracts.
Just one contract was awarded, giving BP and China's
state China National Petroleum Corp. (CNPC) Rumaila, Iraq's
largest producing oilfield near the southern oil hub of Basra.
Hawrami called the auction a fiasco.
"My reaction is really not different from most observers and
most Iraqis ... After three years, it was a fantastic failure."
The round fell short of expectations when bidding revealed a
large gap between what global firms wanted to be paid for
developing the fields and what the ministry was prepared to pay.
Shahristani has brushed that aside, saying that the Rumaila
contract alone had exceeded the ministry's expectation's for
increasing production.
Hawrami said the terms of the contract, in which the BP-led
group will raise output to a plateau of 2.85 million bpd and be
paid $2 for each addition barrel produced, were bad both for
Iraq and for the foreign firms.
((missy.ryan@thomsonreuters.com; +964 7901 917024; Reuters
Messaging: missy.ryan.reuters.com@reuters.com))
Keywords: IRAQ/OIL KURDISTAN
BAGHDAD, July 14 (Reuters) - The Tawke oilfield in Iraqi
Kurdistan, developed by Norway's DNO International
producing some 40,000 barrels per day and output should reach at
least 50,000 within weeks, a top official said on Tuesday.
Kurdistan Natural Resources Minister Ashti Hawrami said
production at the region's Taq Taq field, jointly developed by
Addax Petroleum
fluctuating from 30,000-40,000 barrels per day (bpd), sometimes
dropping up to 10,000 barrels due to pipeline problems he blamed
on the state-run North Oil Company.
"They are causing obstacles and problems for oil flowing
through the pipeline," he said.
The central government gave the go-ahead on June 1 for
Kurdish oil to be exported through a national pipeline, a step
hailed as a potential breakthrough in a six year long feud
between the Kurdish government and the Oil Ministry in Baghdad.
Iraq is aiming to boost output, now about 2.5 million bpd,
to fund rebuilding and investment desperately needed after over
six years of war -- and every little bit will help.
Hawrami did not immediately have figures for the volume of
Kurdish oil exports for June.
Since the launch of exports, tempers have flared anew over
the June 30 auction in which Iraqi Oil Minister Hussain
al-Shahristani offered eight major oil and gas fields to foreign
firms for 20-year, fixed-fee development contracts.
Just one contract was awarded, giving BP
state China National Petroleum Corp. (CNPC) Rumaila, Iraq's
largest producing oilfield near the southern oil hub of Basra.
Hawrami called the auction a fiasco.
"My reaction is really not different from most observers and
most Iraqis ... After three years, it was a fantastic failure."
The round fell short of expectations when bidding revealed a
large gap between what global firms wanted to be paid for
developing the fields and what the ministry was prepared to pay.
Shahristani has brushed that aside, saying that the Rumaila
contract alone had exceeded the ministry's expectation's for
increasing production.
Hawrami said the terms of the contract, in which the BP-led
group will raise output to a plateau of 2.85 million bpd and be
paid $2 for each addition barrel produced, were bad both for
Iraq and for the foreign firms.
((missy.ryan@thomsonreuters.com; +964 7901 917024; Reuters
Messaging: missy.ryan.reuters.com@reuters.com))
Keywords: IRAQ/OIL KURDISTAN
15/7 2009 11:24 JCBN 015249 Hmm!
Confirmed at de eksporterer, men stadig ingen aftale omkring pengene. Ik ifølge den her kilde i hvert fald.
By Waleed Ibrahim
BAGHDAD, July 14 (Reuters) - Iraq's oil exports have
reached an average 2.1 million barrels per day (bpd) in July so
far, the finance minister said on Tuesday, putting them on
track for the biggest month since the 2003 U.S.-led invasion.
Higher revenue from oil plus about $2 billion in fees from
mobile phone companies will give the country a supplementary
budget of up to $3 billion, Finance Minister Bayan Jabor told
journalists in Baghdad.
"Now we are exporting 2.1 million bpd average and sometimes
2.15 million bpd," Jabor said. "This is delightful and
encouraging."
Jabor said mobile phone companies had paid the Iraqi
government $2 billion recently in punitive early license fees.
Iraq's three mobile networks -- Korek, Asiacell and
Kuwait's Mobile Telecommunications Co (Zain) -- were
fined $18.6 million for poor service in May.
Jabor said that earlier, the government had forced the
companies to repay their licence fees of $1.25 billion each,
originally set to be received in three installments. The bulk
of that will be included in the supplementary budget.
"Therefore, the supplementary budget will be in the region
of $2.8 billion up to $3 billion," Jabor said. "But I don't
know what the cabinet will decide. It may increase it or reduce
it."
War-ravaged Iraq had to chop its 2009 spending plans three
times after global oil prices plunged from a peak last summer
of more than $147 per barrel and the country's lacklustre
production levels failed to improve.
The final $58.6 billion version, was dependent on average
oil income of $50 per barrel and exports of 2 million bpd.
Almost all of Iraq's government revenue comes from oil.
Since the inasion, Iraq's export rate had only broken above
the 2 million bpd mark last May, when it hit 2.01 million bpd.
Since then, lower global demand and technical problems at the
country's southern oil fields in Basra have kept crude exports
fluctuating between 1.7 million bpd and 1.925 million bpd,
which they reached last month.
PRESSURE TO BOOST OIL
Jabor said the ministry's suggested budget for 2010 was
based on expected oil export volumes of 2.15 million bpd at a
price of $58 per barrel.
"It is just a suggestion. The committee that is working on
this is expected to finalise its work in the coming two
weeks."
Oil Minister Hussain al-Shahristani has been under pressure
to boost Iraq's lacklustre oil production, urgently needed to
help Iraq rebuild after years of chaos and sectarian bloodshed
that nearly tore the country apart.
Shahristani offered eight oil and gas fields to foreign
firms for 20-year, fixed-fee contracts, in a June 30 bidding
round.
Just one contract was awarded after the bidding revealed a
large gap between what global firms wanted to be paid for
developing the fields and what the ministry was prepared to
pay.
In the end, BP and state-run China National
Petroleum Corp. (CNPC) won Rumaila, Iraq's largest producing
oilfield near the southern oil hub of Basra.
Last month, two fields in Iraq's largely autonomous region
of Kurdistan started producing, an apparent breakthrough
despite Shahristani rejecting oil concessions the Kurds' signed
independently with foreign firms.
Kurdistan Natural Resources Minister Ashti Hawrami said on
Tuesday that the Tawke oilfield in Iraqi Kurdistan, developed
by Norway's DNO International, is producing 40,000 bpd
and output should reach at least 50,000 bpd within weeks.
He said the northern region's Taq Taq field, jointly
developed by Addax Petroleum and Turkey's Genel
Enerji, was fluctuating from 30,000-40,000 bpd.
But it is still unclear how foreign companies in Kurdistan
are to be paid if the government does not recognise their
contracts.
Jabor reiterated the Oil Ministry's position that oil
companies with fields in the Kurdistan region would have to be
paid out of the Kurds' own 17 percent share of the national
budget, dashing hopes Baghdad would make a concession.
"The central government has not approved the contracts made
between foreigns firms and the Kurdish government," Jabor said.
"The companies should be paid from the Kurdish share."
The Kurds are unlikely to agree to pay the firms for
national output out of their own pockets.
Jabor also said that cabinet had approved two new mobile
phone licenses which would be put to auction soon. One of them
was a 3G license, he said.
(Writing by Tim Cocks; Additional reporting by Missy Ryan;
Editing by David Gregorio)
((tim.cocks@thomsonreuters.com; Reuters Messaging:
tim.cocks.reuters.com@reuters.net; +964 7901 917033))
Keywords: IRAQ OIL/BUDGET
Confirmed at de eksporterer, men stadig ingen aftale omkring pengene. Ik ifølge den her kilde i hvert fald.
By Waleed Ibrahim
BAGHDAD, July 14 (Reuters) - Iraq's oil exports have
reached an average 2.1 million barrels per day (bpd) in July so
far, the finance minister said on Tuesday, putting them on
track for the biggest month since the 2003 U.S.-led invasion.
Higher revenue from oil plus about $2 billion in fees from
mobile phone companies will give the country a supplementary
budget of up to $3 billion, Finance Minister Bayan Jabor told
journalists in Baghdad.
"Now we are exporting 2.1 million bpd average and sometimes
2.15 million bpd," Jabor said. "This is delightful and
encouraging."
Jabor said mobile phone companies had paid the Iraqi
government $2 billion recently in punitive early license fees.
Iraq's three mobile networks -- Korek, Asiacell and
Kuwait's Mobile Telecommunications Co
fined $18.6 million for poor service in May.
Jabor said that earlier, the government had forced the
companies to repay their licence fees of $1.25 billion each,
originally set to be received in three installments. The bulk
of that will be included in the supplementary budget.
"Therefore, the supplementary budget will be in the region
of $2.8 billion up to $3 billion," Jabor said. "But I don't
know what the cabinet will decide. It may increase it or reduce
it."
War-ravaged Iraq had to chop its 2009 spending plans three
times after global oil prices plunged from a peak last summer
of more than $147 per barrel and the country's lacklustre
production levels failed to improve.
The final $58.6 billion version, was dependent on average
oil income of $50 per barrel and exports of 2 million bpd.
Almost all of Iraq's government revenue comes from oil.
Since the inasion, Iraq's export rate had only broken above
the 2 million bpd mark last May, when it hit 2.01 million bpd.
Since then, lower global demand and technical problems at the
country's southern oil fields in Basra have kept crude exports
fluctuating between 1.7 million bpd and 1.925 million bpd,
which they reached last month.
PRESSURE TO BOOST OIL
Jabor said the ministry's suggested budget for 2010 was
based on expected oil export volumes of 2.15 million bpd at a
price of $58 per barrel.
"It is just a suggestion. The committee that is working on
this is expected to finalise its work in the coming two
weeks."
Oil Minister Hussain al-Shahristani has been under pressure
to boost Iraq's lacklustre oil production, urgently needed to
help Iraq rebuild after years of chaos and sectarian bloodshed
that nearly tore the country apart.
Shahristani offered eight oil and gas fields to foreign
firms for 20-year, fixed-fee contracts, in a June 30 bidding
round.
Just one contract was awarded after the bidding revealed a
large gap between what global firms wanted to be paid for
developing the fields and what the ministry was prepared to
pay.
In the end, BP
Petroleum Corp. (CNPC) won Rumaila, Iraq's largest producing
oilfield near the southern oil hub of Basra.
Last month, two fields in Iraq's largely autonomous region
of Kurdistan started producing, an apparent breakthrough
despite Shahristani rejecting oil concessions the Kurds' signed
independently with foreign firms.
Kurdistan Natural Resources Minister Ashti Hawrami said on
Tuesday that the Tawke oilfield in Iraqi Kurdistan, developed
by Norway's DNO International
and output should reach at least 50,000 bpd within weeks.
He said the northern region's Taq Taq field, jointly
developed by Addax Petroleum
Enerji, was fluctuating from 30,000-40,000 bpd.
But it is still unclear how foreign companies in Kurdistan
are to be paid if the government does not recognise their
contracts.
Jabor reiterated the Oil Ministry's position that oil
companies with fields in the Kurdistan region would have to be
paid out of the Kurds' own 17 percent share of the national
budget, dashing hopes Baghdad would make a concession.
"The central government has not approved the contracts made
between foreigns firms and the Kurdish government," Jabor said.
"The companies should be paid from the Kurdish share."
The Kurds are unlikely to agree to pay the firms for
national output out of their own pockets.
Jabor also said that cabinet had approved two new mobile
phone licenses which would be put to auction soon. One of them
was a 3G license, he said.
(Writing by Tim Cocks; Additional reporting by Missy Ryan;
Editing by David Gregorio)
((tim.cocks@thomsonreuters.com; Reuters Messaging:
tim.cocks.reuters.com@reuters.net; +964 7901 917033))
Keywords: IRAQ OIL/BUDGET
