Contract signed with winning companies to develop Ukas Gas Field

BAGHDAD / IraqiNews.com: Iraq’s Oil Company shall sign a contract in initial on Thursday with the foreign companies of the Third Licenses Session for the development of Iraq’s Ukas Gas Field, an Oil Ministry official said. “The Oil Ministry shall sign in initial the contract for the development of Ukas Gas Field with the winning companies in the Third Licenses Session in Baghdad  – the South Korean Kogas and the Kazakh Munai Gas Companies, to develop the gas field, based in Anbar Province for 5.5 dollars per cubic feet, in order to raise the average production of the field to 40 million cubic feet of gas daily,” the Oil Ministry’s Official Spokesaman, Assem Jihad told IraqiNews.com news agency. Jihad said the contracts would be sent after their signing to the Iraqi Council of Ministers to study, discuss and authenticate them, in order to decide the final signing of the contracts with the two oil companies. The Oil Ministries Petroleum Contracts and Licenses Department has opened possibility for signing competitive offers by leading international oil companies to develop gas fields, included in the 3rd Competition Session, including Ukas Gas Oil Field, won by the two said companies -50/50, for 5.5 dollars per oil barrel, the Siba Field wsth Kuwait Energy Company -60% and TPO Turkish Company – 40% – 7.50 dollars, Mansouriya  Field with three companies – Turkish TPO 50%, Kuwait Energy – 30% and Kogas – 20%, for 7 dollars per barrel. SKH(PT)/SR 947