Project Profile
Value: US$250 million
Location: North of Iraq
Production: 195,000 bpd (2012)
Peak Production: 1 million barrels per day by the end of 2014
Start-up Year: -
The Bai Hassan field lies in the north of Iraq, just to the southwest of the Kirkuk field. As of December 2011, no contracts had been awarded to international oil firms for exploitation of the deposit.
On 2nd July 2009, the Petroleum Contracts and Licensing Directorate of the Ministry of Oil announced that, despite several bids from international oil companies (IOCs) for the Bai Hassan contract area, the country decided not to award an international contract for the field.
A bid was proposed by a consortium of ConocoPhillips, CNOOC and Sinochem, however the remuneration fee bid of US$26.70 was well in excess of the minimum established by the Ministry of Oil.
Operators:
North Oil Company (NOC): Operator with 100% interest (until July 2014)
Kurdistan Regional Government (KRG)
Output from Bai Hassan and Kirkuk is being exported by the Kurdistan Regional Government, through its pipeline to Fishkhabour, where it connects to the Kirkuk-Ceyhan pipeline.