Created Sun 28th Jun 11:35am PST by

kruijs [Power User]

Iraq - Which company will win the bidding for the Kirkuk oil field?

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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.

KIRKUK OIL FIELDS:

Kirkuk:
reserves: 8 billion barrels.
current: 400,000 barrels/day.
target: 625,000 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)

19%

ChevronTexaco (USA)

10%

TotalFinaElf (FRA)

Conoco+Phillips (USA)

10%

Petronas (MAS)

JSC Lukoil (RUS)

Sinopec (CHN)

Any other company/firm or outcome

30%

Predictions on this question are temporarily suspended

Activity: H$10,303
Predictions: 56
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

Unsuspended Fri 3rd Jul 5:44am PST by

bayoubear [Admin]

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

Changed Suspend date Fri 3rd Jul 5:44am PST by

bayoubear [Admin]

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

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

Changed Description Mon 6th Jul 7:21am PST by

bayoubear [Admin]

: show details

... /> target: 625,000 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 7:21am PST by

bayoubear [Admin]

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

Unsuspended Mon 6th Jul 7:22am PST by

bayoubear [Admin]

: Question reopened 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 (56)

7 weeks ago

donnamil Level 15, Seer (H$282,493)

predicted Any other company/firm or outcome (H$300 at 28%)

15 weeks ago

jank

predicted Any other company/firm or outcome (H$100 at 22%)

18 weeks ago

sdchargers [Power User]

predicted Any other company/firm or outcome (H$500 at 18%)

19 weeks ago

aaronwinborn Level 11, Legend (H$21,641)

predicted Conoco+Phillips (USA) (H$50 at 12%)

19 weeks ago

aaronwinborn Level 11, Legend (H$21,641)

predicted Any other company/firm or outcome (H$50 at 15%)

Comments (3)

bayoubear [Admin]

Very nice set of questions.........good to look at some other areas of economic news......

posted 20 weeks ago

kruijs [Power User]

The Kirkuk field got one bid by a group led by Royal Dutch Shell and including Sinopec and the Turkish Petroleum Corp.

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