Created Sun 28th Jun 11:35am PST by

kruijs [Power User]

Iraq - Which company will win the bidding for the Missan oil fields?

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Background:

Background: Iraq is scheduled to open its first postwar bidding for oil service contracts on Monday. International oil companies were expelled by Saddam Hussein more than 30 years ago.

http://www.google.com/hostednews/ap/article/ALeqM5jpBEKPNaF-qBe2TU2V6lmxCs2B6QD991RR000
http://www.iraqoilreport.com/the-biz/op-ed-assessment-of-the-oil-and-gas-contracts-in-iraq-1841/

The companies that qualified for the bidding, along with the fields and reserves, are compiled below.

Companies

Chevron (USA)
ConocoPhilips (USA)
Exxon Mobil (USA)
Hess Corp. (USA)
Marathon International Petroleum Ltd. (USA)
Occidental Petroleum Corp. (USA)
BP Group PLC. (GBR)
Inpex Holdings Inc., (JAP)
Japex and Nippon Oil Corp. (JAP)
BHP Billiton Ltd. (AUS)
Woodside Petroleum Ltd. (AUS)
China's CNOOC Ltd. (CHN)
CNPC International Ltd. (CHN)
Sinochem International Co. Ltd. (CHN)
Sinopec Shanghai Petrochemical co. Ltd. (CHN)
Edison International SPA (ITA)
Eni (ITA)
JSC Lukoil (RUS)
JSC Gazprom Neft (RUS)
Total SA. (FRA)
Korea Gas Corp. (KOR)
Repsol YPF SA. (ESP)
StatoilHydro ASA. (NOR)
Royal Dutch Shell. (NED)
Nexen Inc. (CAN)
Maersk (DEN)
ONGC Ltd. (IND)
Petronas Gas BHD. (MAS)
PT Pertamina (INA)

State-run oil firms:

Turkish Petroleum Corporation (TPAO),
Algeria's Sonatrach,
PetroVietnam,
Angola's Sonangol SA,
Pakistan Petroleum Ltd.,
and Petroleum Authority of Thailand.

MISSAN OIL FIELDS:

In total:
reserves: 2.6 billion barrels
current: 100,000 barrels/day
target: 300,000 barrels/day.

CatEds Note:
"Oil ministry spokesman Assem Jihad said Thursday that a new date for the second bid round hadn't been set, but that it could be held as early as within the next few months. It had originally been scheduled for December."

http://online.wsj.com/article/SB124653439569985287.html

This question is being reopened and extended until the end of September.

Settlement details:As reported by a major mainstream news source.

Forecast history %

ExxonMobil (USA)

BP Group PLC (GBR)

Royal Dutch/Shell (NED)

ChevronTexaco (USA)

TotalFinaElf (FRA)

Conoco+Phillips (USA)

Petronas (MAS)

JSC Lukoil (RUS)

Sinopec (CHN)

Any other company/firm or outcome

61%

Predictions on this question are temporarily suspended

Activity: H$9,522
Predictions: 34
Comments: 3

Suspend date: Wed 30th Sep 11:59pm PST

Initial likelihoods: ExxonMobil (USA): 10%, BP Group PLC (GBR): 10%, Royal Dutch/Shell (NED) : 10%, ChevronTexaco (USA) : 10%, TotalFinaElf (FRA) : 10%, Conoco+Phillips (USA): 10%, Petronas (MAS): 10%, JSC Lukoil (RUS): 10%, Sinopec (CHN): 10%, Any other company/firm or outcome: 10%

Action history:

Created Sun 28th Jun 11:35am PST by

kruijs [Power User]

Suspended Tue 30th Jun 11:59pm PST : Suspend date reached

Changed Suspend date Fri 3rd Jul 5:45am PST by

bayoubear [Admin]

: was: "2009-06-30 23:59:00"

Unsuspended Fri 3rd Jul 5:45am PST by

bayoubear [Admin]

: Bidding not finalized...extending wagering period through Sunday night

Suspended Sun 5th Jul 11:59pm PST : Suspend date reached

Changed Description Mon 6th Jul 7:28am PST by

bayoubear [Admin]

: show details

... /> target: 300,000 barrels/day. CatEds Note: "Oil ministry spokesman Assem Jihad said Thursday that a new date for the second bid round hadn't been set, but that it could be held as early as within the next few months. It had originally been scheduled for December." http://online.wsj.com/article/SB124653439569985287.html This question is being reopened and extended until the end of September.

Changed Suspend date Mon 6th Jul 7:28am PST by

bayoubear [Admin]

: was: "2009-07-05 23:59:00"

Unsuspended Mon 6th Jul 7:28am PST by

bayoubear [Admin]

: Reopening until the end of September

Suspended Wed 30th Sep 11:59pm PST : Suspend date reached

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Suspend date: Wed 30th Sep 11:59pm PST details

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Predictions (34)

7 weeks ago

oocares Level 13, Psychic (H$56,045)

predicted Any other company/firm or outcome (H$100 at 60%)

16 weeks ago

jank

predicted JSC Lukoil (RUS) (H$100 at 3%)

18 weeks ago

sdchargers [Power User]

predicted Any other company/firm or outcome (H$500 at 59%)

19 weeks ago

aaronwinborn Level 11, Legend (H$21,647)

predicted ChevronTexaco (USA) (H$12 at 8%)

19 weeks ago

neopugg Level 7, Pro (H$4,357)

predicted BP Group PLC (GBR) (H$5 at 7%)

Comments (3)

kruijs [Power User]

Iraq receives one bid for Maysan oilfields

BAGHDAD, June 30 (Reuters) - Iraq's Oil Ministry said on Tuesday it had received one bid from international energy companies for the three fields making up the 2.5-billion barrel Maysan oilfield complex.

The field was one of six oilfields and two gas fields on offer in Iraq's first auction of major oil contracts since the 2003 U.S.-led invasion.

The consortium which entered a bid for Maysan was led by China's CNOOC (0883.HK), with Sinochem (600500.SS).

http://www.reuters.com/article/marketsNews/idUSLU48036020090630

posted 20 weeks ago

kruijs [Power User]

The Maysan field failed to find a developer as Iraq and the single consortium that bid (Cnooc and Sinochem) could not agree the terms.

http://blogs.ft.com/energy-source/2009/06/30/live-oil-companies-bid-for-iraqs-oil-fields/

posted 20 weeks ago

bayoubear [Admin]

ATTENTION TO ALL WAGERERS ON THESE IRAQI OIL FIELD QUESTIONS

It appears that most all of the bids are being submitted, not by the individual companies as listed, but by consortiums, led by one particular company, depending upon the field.

This question will be settled based on which company is the LEAD company in the consortium. Only if there is another company involved as the lead company, or if there is a 50/50 split between two companies in the deal would the settlement be 'other outcome'

This market has been reopened to allow for continued wagering and adjustments of positions. It may be extended beyond the current Sunday deadline if need be, depending upon the scheduling of bidding events.

posted 20 weeks ago