Dubai (Natural Energy News): Iraq plans to launch a new licensing bid round for the Mansooria gas field after cancelling a contract with a group of Turkish state-owned TPAO-led companies, the country's oil minister said state-owned Wali Iraqi news agency reported on October 15.
The ministry has invited international companies to participate in the new license round and present their best proposals to develop the area, which includes 4.5 TCF gas, Ihsan Ismail told the agency.
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Iraq's oil ministry plans to deploy a state upstream company to develop the Mansuria field, although the move may be complicated by an inability to reach an agreement with the TPAO-led consortium that currently holds the rights to the area Former oil minister Jabul al-Luabi said in September 2018.
The Midland Oil Company will begin work to develop the area, Luabi said at a time when the deal with the consortium that won the contract in the third round of 2010 was delayed for years due to safety issues.
TPAO holds 37.5%, Kuwait Energy has 22.5% and Kogus, South Korea has 15%, the Iraqi state has 25% with Midland Oil Company.
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Under the initial development plan, commercial production was to begin in 2015 and reach 80 MMcf / d that year, but this was until the June 2014 invasion of the militant group Islamic State.
Mansuria is located in Diyala Province, northwest of Baghdad, near the border with Iran. The rebels never took the field, but seized the surrounding area from where they attacked it. The consortium announced the force, but improved security and the Islamic State was removed from almost all areas held by mid-2017.
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