Middle East Economic Survey


No 51-52


Baghdad Awards 4.8Mn B/D Second Tranche Of Upstream Oil Projects

Bids in Iraq’s second upstream bidding round, awarded 11-12 December, met expectations of multi-million b/d capacity pledges, while white hot competition on prices left many oil industry observers reeling. The 4.8mn b/d of new capacity pledged from the seven Round 2 projects combined with an equal volume from Round 1 could theoretically boost Iraqi...