Tatneft has chance to return to Iraq

Rosneft and Tatneft companies have been included in the list of candidates claiming oil-gas field exploration in Iraq as a part of the second qualifying stage. Russian informational agencies report about it citing Iraq’s Oil Ministry.

38 companies had submitted application for participation. Besides, the two Russian companies, the following companies have been included in the list: KazMunaiGas Exploration Production (Kazakhstan), PetroVietnam Exploration and Production Corp. (Vietnam), Sonangol (Angola), Pakistan Petroleum Ltd. (Pakistan), Japan Oil, Gas and Metals, National Corp. (Japan), Cairn Energy (Great Britain), and Oil India Ltd (India).

The listed companies can participate in the second stage of licensing. The companies, which will have passed all selection stages, will have to give at least 25 percent from each project to Iraqi state-owned oil companies.

Tatneft had signed contracts for well-drilling before the war in Iraq in spring 2003. The company’s specialists accomplished preparation work, collected necessary data, developed technical and economic feasibility of well development. But Tatneft didn’t proceed with work at blocks due to the international sanctions against Iraq.