Oil rights to be auctioned at Iraq’s oldest producing field | The National:
"North Oil Company (NOC), the operating company of Kirkuk, Iraq’s oldest-producing field, hopes to auction oil rights within two years as it seeks more than US$18 billion in investment to update the site to bring it to full potential.
BP is due to complete a preliminary study of Kirkuk, where NOC is the federally controlled operator, in 18 months, following a $100 million deal signed last month.
The study’s outcome, which is likely to include recommendations to either inject water or gas into wells to push oil out, paves the way for a special licensing round in Iraq. The world’s biggest oil companies are keeping a close watch on the outcome."
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