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Saddam-era oil deals "all canceled," Iraqi ministry
spokesman says
22.4.2008
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April
22, 2008
BAGHDAD, -- All of the oil deals signed by
Saddam Hussein have been "canceled" and the
companies must bid for the fields again, the Iraq
Oil Ministry spokesman says.
This appears to be a change in policy, as the
ministry had said that four deals still carried
legal weight and, although they'd have to be brought
in line with the new law, would still be honored.
"The old contracts that were signed during Saddam's
era are all canceled," Assem Jihad told UPI in a
telephone interview. "If any of these contracts are
to be renewed they would have to suit the new
requirements of the new oil law that will be
approved soon."
Iraq had contracts with ONGC of India, CNPC of
China, Pertamina of Indonesia and PetroVietnam that
were considered valid and were reportedly under
negotiation.
Iraq is relying on Saddam-era oil regulations while
the draft new oil law is under debate. The ministry
short-listed 35 companies of 120 that applied for
pre-qualification in an upcoming bidding round.
Jihad would not say which oil and gas fields would
be put to tender in the round, but the list is
expected to be announced soon.
"All companies will have to internationally compete
to offer better bids that would bring more interest
to the Iraqi economy. All of these contracts from
these companies will be reviewed by the Ministry of
Oil," Jihad said. "We, at the Ministry of Oil,
assure that no contract yet is signed with any
company to invest or develop whatsoever."
Copyright, respective author or news agency, UPI
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