Min­istry of Nat­u­ral Re­sources An­nounce­ment on Oil Ex­port Sales

The Kurdish Globe - - NEWS -

Er­bil, Kur­dis­tan Re­gion, Iraq -The KRG Min­istry of Nat­u­ral Re­sources (MNR) gives pub­lic no­tice of the com­mence­ment of the sale of its first ship­ment of crude oil ex­ported via the Kur­dis­tan Re­gion’s new pipe­line through Turkey to the Port of Cey­han.

The MNR an­tic­i­pates the sale of the first par­cel of two mil­lion bar­rels of ex­ported crude oil to oc­cur at the end of Jan­uary 2014. There­after, monthly parcels will in­crease to 4 mil­lion bar­rels by the end of Fe­bru­ary and 6 mil­lion by the end of March, then steadily step­ping up to 10-12 mil­lion bar­rels for De­cem­ber 2014.

At the be­gin­ning of this month, some ini­tial quan­ti­ties of crude oil pro­duced from the Tawke field be­gan flow­ing through Kur­dis­tan’s new pipe­line sys­tem to the Turk­ish port of Cey­han. Crude oil from Taq-Taq and other pro­duc­ing fields will soon be added to the ex­port sys­tem, re­sult­ing in a blended medium crude oil qual­ity of 30 to 32 De­grees API.

Prospec­tive buy­ers can lift the crude oil ship­ments in the port of Cey­han un­der sim­i­lar ar­range­ments as those used for SOMO (the State Oil Mar­ket­ing Or­gan­i­sa­tion) for oil ex­port from Kirkuk.

De­tails of each par­cel will be pub­lished by MNR in due course. All ten­ders will be com­pet­i­tive and based on in­ter­na­tional pric­ing. In or­der to en­sure the full trans­parency of the sales and con­tract­ing process, in­de­pen­dent ob­servers will be in­vited to each ten­der to­gether with rep­re­sen­ta­tives of the oil com­pa­nies that have pro­duced the ex­ported oil.

MNR also in­vites rep­re­sen­ta­tives of SOMO to join the process as ob­servers.

At this stage, MNR is invit­ing rep­utable and fi­nan­cially ca­pa­ble com­pa­nies to reg­is­ter their in­ter­est with MNR in par­tic­i­pat­ing in the Jan­uary, or any fu­ture, ten­der.

All ap­pli­cants should in the first in­stance write to the Min­istry of Nat­u­ral Re­sources with in­for­ma­tion about their com­pany pro­file, track record and fi­nan­cial sta­tus via email KOMO@mnr.krg.org.

All sub­mis­sions should be ad­dressed to:

KOMO - Kur­dis­tan Oil Mar­ket­ing Or­ga­ni­za­tion,

Min­istry of Nat­u­ral Re­sources,

Coun­cil of Min­is­ters, Kur­dis­tan Re­gional Govern­ment,

Er­bil, Kur­dis­tan Re­gion, Iraq

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