Iraq’s Oil Bid Rounds: Politics and Pitfalls
Originally posted April 2010
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Saifaldin D. Abdul-Rahman is Vice President of IWG a US / Iraqi firm providing consulting, logistics, and construction work in Iraq. He is also a partner in the Taj Al-Khairat Group for Investment. He has held senior posts in the Iraqi government, including as Advisor to the Vice President of Iraq (2009), Chief of Staff to the Speaker of Parliament (2005), and Chief of Staff to the Minister of Industry & Minerals (2004).
Originally posted April 2010
Iraq has the world’s third-largest oil reserves. However, the development of Iraq’s petroleum sector has been severely hampered by decades of war, sanctions, underinvestment, the exodus of scores of technocrats, and sabotage. Repairing Iraq’s oil infrastructure and expanding exploration, development, and production is of paramount importance to the country’s future. In June 2009, the Iraqi Oil Ministry embarked on an effort to help meet this challenge by offering service contracts to international oil companies (IOCs) in two rounds of tenders.