Exploration & Production

No bid for Iraq oil

BG INTERNATIONAL OF the UK, US company, Anadarko Petroleum Corp., and Wintershall Holding AG's BASF SE of Germany are not planning to submit offers to develop Iraq's oil and gas fields announced in the first bidding round, an authorised oil ministry spokesman said.

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Iran and China sign US$1.76 billion deal

IRAN AND CHINA have signed a US$1.76 billion deal for the initial development of Iran's North Azadegan oilfield, Iran's official IRNA news agency has reported. The deal was signed between the China National Petroleum Corp. and the National Iranian Oil Co.

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Tax break sees Kazakh production resume

ARAWAK HAS RESUMED oil production at its four operated fields in Kazakhstan. Arawak announced on December 5, 2008 that it had curtailed production at the fields following a significant deterioration in margins owing to high taxation and a material decline in world oil prices.

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