The Hindu Business Line : OVL qualifies to bid for oil contracts in Iraq

A company official told Business Line that OVL already has licence for Block 8 in Iraq and was qualified to bid in future contracts. “However, following the required criteria of that country the company had participated in the qualification rounds,” he said.

The overseas investment arm of ONGC is the only Indian company in the list of 35 firms that has qualified for bidding.

Iraq’s Oil Ministry on Monday published a list of 35 companies that were qualified to bid in the first licensing round for oil and gas contracts.Iraq holds the world’s third largest oil reserves. The country luring investment to overhaul energy infrastructure and boost oil and gas output after years of sanctions and war. According to reports, some 120 companies submitted paperwork for qualification. Those who have qualified include BP, Chevron, Exxon Mobil, Royal Dutch Shell and Total. There are also Chinese firms — CNOOC, CNPC, Sinochem and Sinopic Group.

Reliance Industries Ltd (RIL) had not participated in the qualification round after Baghdad threatened to blacklist the firm for signing contracts for two oil blocks with Kurdistan Regional Government.

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