UPDATE: Baker Hughes Joins BP, Schlumberger On Talks To Upgrade Kirkuk-Source
12 Março 2012 - 9:35AM
Dow Jones News
U.S. giant oil services firm Baker Hughes Inc. (BHI) has joined
U.K.-supergiant BP PLC (BP) and Schlumberger Ltd. (SLB) on separate
talks with Iraq to more than double output from the country's giant
Kirkuk oil field in northern Iraq, an Iraqi oil industry figure
said Monday.
"Baker Hughes, BP and Schlumberger have shown interest to
develop Kirkuk oil fields," the person, who is familiar with the
Kirkuk oil field, told Dow Jones Newswires. "Iraq is conducting
preliminary talks with these three companies to examine plans to
develop the field," located in the oil hub of Kirkuk province in
northern Iraq.
Iraq is aiming to sign a five to 10 year deal with one of these
firms to raise output from the field to 600,000 barrels a day
eventually from 280,000 barrels a day currently, the source
said.
"Baghdad wants to bring output from the field to 600,000 in five
years," he added.
Production at Kirkuk, discovered in 1927, has declined to
280,000 barrels a day from 900,000 barrels a day in the early 2000s
after years of injecting water and dumping unwanted crude and
products into the field.
Kirkuk oil field was one of the fields auctioned by Baghdad in
the country's first post-war oil licensing round held in 2009. A
consortium led by Royal Dutch Shell PLC (RDSA) offered to boost
output from the field to 825,000 barrels a day for a fee of $7.89 a
barrel, but Baghdad insisted on payment of $2 a barrel.
Most of the companies didn't submit bids for the Kirkuk field as
the situation in the province has been unstable since the U.S.-led
war against Iraq in 2003. Kirkuk is disputed by the Kurds and the
central government in Baghdad. The Kurds say Kirkuk is part of
their Kurdistan and should be annexed, while Baghdad wants Kirkuk
to stay under its rule.
The three companies contesting for Kirkuk oil fields are already
working in southern Iraq. BP is developing the 1.3 million
barrels-a-day oil field, Rumaila, Iraq's largest. BP was awarded
the field during the first bidding round in 2009. Baker Hughes and
Schlumberger are working in several oil fields in southern
Iraq.
-By Hassan Hafidh; Dow Jones Newswires; +962 799 831 831;
Hassan.hafidh@dowjones.com
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