Type of Contract: Bid Round 1 (BR1) Producing Field Technical Services Contract (PFTSC). Contract length 20 yrs + 5. Note: There are a number of inconsistencies between the descriptions of the West Qurna1 version of the contract in Jiyad, Wells and other sources. The parameters given below are therefore something of a compromise between the different versions. Table 6.6: Physical parameters Parameter Value Acronyms Document Notes Source Reserves in 25 billion Wells place barrels (November 2009:2) Recoverable 12.163 billion Estimate based Jiyad reserves barrels on Jiyad (December (48.6%) production 2010:19) states schedule 8.6 billion but (December this is not 2010:6) and consistent with decline rate in his own Wells (2009:3) production schedule Initial production 0.544 mbd BLP Contract p.6 0.544 mbd = rate in 2010/ 198,696 000’s Jiyad (December baseline barrels per year 2010:6,19) production (1 yr = 365.25 days) Baseline BLP declining BLP rate Contract p.3 production rate at 5% per Jiyad annum (September 2010:8) Incremental Actual Contract p.6 production production in excess of BLP Plateau 2.325 mbd PPP Contract p.8 2.350 mbd production according to Wells (2009:3) Jiyad (December Mousa (2010:10) 2010:6,19) Plateau start 2017 Wells (2009:3) 2016 according year to Jiyad (December 2010:6) Estimated 13% per Wells (2009:3) Inconsistent decline rate annum with Jiyad after PPP (December
Type of Contract: Bid Round 1 (BR1) Producing Field Technical Services Contract (PFTSC). Contract length 20 yrs + 5. Note: There are a number of inconsistencies between the descriptions of the West Qurna1 version of the contract in Jiyad, Wells and other sources. The parameters given below are therefore something of a compromise between the different versions. Table 6.6: Physical parameters Parameter Value Acronyms Document Source Notes Reserves in place 25 billion barrels Wells (November 2009:2) Recoverable reserves 12.163 billion barrels (48.6%) Estimate based on Jiyad production schedule (December 2010:6) and decline rate in Wells (2009:3) Jiyad (December 2010:19) states 8.6 billion but this is not consistent with his own production schedule Initial production rate in 2010/ baseline production 0.544 mbd BLP Contract p.6 Jiyad (December 2010:6,19) 0.544 mbd = 198,696 000’s barrels per year (1 yr = 365.25 days) Baseline production rate BLP declining at 5% per annum BLP rate Contract p.3 Jiyad (September 2010:8) Incremental production Actual production in excess of BLP Contract p.6 Plateau production 2.325 mbd PPP Contract p.8 Wells (2009:3) Mousa (2010:10) 2.350 mbd according to Jiyad (December 2010:6,19) Plateau start year 2017 Wells (2009:3) 2016 according to Jiyad (December 2010:6) Estimated decline rate after PPP 13% per annum Wells (2009:3) Inconsistent with Jiyad (December