The Iraqi oil ministry will negotiate directly with international oil companies (IOCs) and consortiums in the upcoming bidding of a dozen small- to medium-sized fields located in the provinces of Central, Basra and Misan. According to a tender document on the ministry’s website and cited by Reuters , firms will be permitted to “submit their own proposals for contractual, commercial and financial terms and conditions.” Officials pre-qualified nineteen firms from around the world to participate in the bidding process, including six from Japan and others from countries such as Russia, Italy, and the United Arab Emirates. In addition, firms that have not been prequalified may also participate in the process after paying a US$15,000 fee as well as submitting proof of their technical and financial capabilities. To help with that process, the ministry has offered a data package with the price tag of US$50,000. The Iraqi […]