VOL. XLVI

No 41

13-October-2003

IRAQ

IOCs Bide Their Time On Iraqi Oil Development

While there is a keen interest on the part of international oil companies (IOCs) to bid for Iraqi oilfield development, no serious prospect for negotiations is expected before 2005, a senior official at a major IOC told MEES. There are in fact three hurdles that need to be crossed before negotiations can start in earnest.

First, the prevalence of security throughout the country. The IOCs will be involved not only in...