Sinochem to bid for Iraqi oil and gas fieldsSinochem Group, China’s fourth-largest oil company, has got permission to participate in Iraq’s second auction of oil and gas fields in November, said Tuesday’s China Daily.
Sinochem is one of the 45 companies qualified to participate in he second bidding round, the newspaper said, citing a company statement that did not specify which fields it was interested in.
The company had earlier participated in the first bidding round for Iraqi oil fields in June last year, the newspaper said.
Analysts said the move shows that domestic oil companies are increasingly looking towards Iraq, which has the third largest proved oil reserves in the world.
Zhou Jiping, president of PetroChina, the listed arm of China National Petroleum Corp (CNPC), said on Friday that the company was interested in bidding for more Iraqi oil fields in the second round of bidding, after winning a joint bid with BP for the Rumaila field in the first round.
Iraq made its first auction of major oil contracts in June last year since the U.S.-led invasion. China’s oil majors all took part in the bidding. Only CNPC, which teamed up with BP, won a contract to develop the Rumaila oilfield.
The CNPC-BP contract was also the only one to be awarded in the first auction, as there were some differences between the Iraqi government and other oil majors over payment terms.
China’s other oil majors including CNOOC will also consider participating in the second round, said the newspaper, citing one source close with the deal.
Iraq plans to award contracts for the six partly developed and four undeveloped fields in its second licensing round. It has proposed better contract terms than in the first round, according to the newspaper.[感谢阅读这篇文章，本文来自［教育资源库］edu.5151doc.com收集与整理，感谢原作者]