Sonoran Energy submits bids for two addition Iraqi oilfield contracts
Sonoran Energy, Inc. President and CEO Peter Ostenfeld-Rosenthal announced Monday that the Company has submitted bids for two addition Iraqi oilfield contracts. The two applications were submitted to Iraq's Ministry of Oil through the State Company for Oil Projects (SCOP), which operates the design and engineering of upstream and downstream projects in Iraq.
The two contracts include the Khurmala Dome Project in the Kirkuk Field and the Hamrin Oil Field Development Project.
The Khurmala Dome Project -- the largest complex in the Kirkuk field -- is aimed at increasing production at Kirkuk by 100,000 bbl/d. This development of Khurmala is aimed at compensating for declines in output of the mature Kirkuk field.
The northern Kirkuk field, first discovered in 1927, forms the basis for northern Iraqi oil production. The drilling and field development contract in the Hamrin Field, located 75 km south west of Kirkuk and 200 km northwest of Baghdad, is for production of 60,000 bbl/d. The Hamrin Oil Field Development Project includes the completion of 45 wells, and the drilling and completion of 76 additional wells.
These contracts for developing or repairing oil production facilities in the Kirkuk and Hamrin fields are cash contracts that Sonoran Energy would like to see converted to risk-sharing agreements in the future. Sonoran Energy made the formal submission to the Ministry of Oil in conjunction with the Company's operating services affiliate Scottsdale Oil Field Services Ltd.
"Now that these bids have been submitted we intend to meet with the Ministry of Oil to discuss our potential involvement in these significant projects," said Peter Ostenfeld-Rosenthal President and CEO of Sonoran Energy. "Our Iraqi partners are currently in Baghdad and have several meetings scheduled this week to explore the status of the Khurmala and Hamrin projects. Despite the volatile nature of working in Iraq, Sonoran Energy remains one of a handful of Western companies pursuing oil and gas opportunities inside Iraq." (menareport.com)
© 2004 Mena Report (www.menareport.com)
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