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The Oil Ministry Postpones the Presentation for the Exploration Blocks to April the 25th.

The First Contract Includes the Exploration, Development and Production from the Exploration Block. While he Second one Includes the Development and Production Contract.

The Ministry of oil declared to extend the date of receiving the offers of the international qualified companies for the licensing round to develop (11) exploration blocks on the border to April the 25th.

   The postponement was made According to the request of the companies to have more time to study the offers of the licensing round before the presentation at the determined date.

   Mr. Assim Jihad the spokesman of the ministry of oil said that the petroleum contracts & licensing directorate have sent a document to the qualified companies at Friday the 13th of April includes the final form of the tender, the conditions of the tender and the formula of the two contracts. The first contract includes the exploration, development and production from the exploration block. While he second one includes the development and production contract. And the qualified companies whom purchased the data portfolios was (14) companies.

   Mr. Jihad said also that the contracts of this tender are service contracts. And some of the chapters of these contracts was modified after the discussion with the qualified companies in order to achieve the mutual benefits for the concerned parties.

   He said also that the petroleum contracts & licensing directorate have determined the 25th of April as the final date to present the offers in a public conference made for this purpose. The conference will be attended by the officials, the representatives of the international companies and the media.

   It is worthy to say that the petroleum contracts & licensing directorate have determined earlier the 15th of April as the date to present the offers.

Source: Ministry of Oil

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