Middle East Economic Survey


No 43  


Mid-Tier Firms Dominate Iraqi Gas Upstream Auction

Iraq on 20 October awarded all three projects offered in its third upstream licensing round, a round dedicated to non-associated gas fields. Tough terms, increased political uncertainty and the geologically less tempting nature of the blocks on offer largely deterred the majors that dominated Iraq’s two oil bidding rounds in 2009, allowing three mid-tier national...