ONGC TWO

Sources said Statoil ASA, Norway's biggest oil and
natural gas producer, and Russia's OAO Lukoil also made a bid
that was better than OVL-led group by offering to produce
600,000 bpd from the Halfaya oil field at an average USD 1.53
a barrel.

Also in the fray was a joint venture of Eni of Italy,
Sononal of Angola, Cnooc of China, Korea Gas and Occidental of
the US, which wanted to be paid USD 12.9 per barrel for
producing 400,000 bpd of peak output from Halfaya oilfield.
Iraq sought bids from 45 pre-qualified oil firms on the
dollar-per-barrel remuneration fee they want for developing
the fields and the targeted plateau production.
Shell-Petronas proposed a per-barrel fee of USD 1.39 for
Majnoon and a plateau production target of 1.8 million bpd
compared to the current level of 46,000 bpd. They bear a rival
bid by Total SA and CNPC for the field which has an estimated
reserves of 12.6 billion barrels of oil.
While the first post-war Iraqi licensing round in June
was focused on increasing output from huge oilfields already
in production, the second is about bringing on stream massive
undeveloped fields such as Majnoon and West Qurna Phase 2.
Sources said the scoring formula for the two bidding
parameters -- the dollar-per-barrel remuneration fee and
plateau production target -- has been weighted 80 per cent
toward the fee, with the aim of dissuading companies from
promising unrealistically high output targets. MORE PTI ANZ
DDC


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