Premier Oil PLC dropped by Iraq Oil Ministry

British oil company Premier Oil PLC have been dropped by Iraq's Oil Ministry from qualifying for a group with a opportunity to develop the country's largest oil and gas fields.

The company failed to submit documents required for it to compete in a bid due to start next month according to a ministry official.

Due to Premier Oil’s failure to comply with the conditions set, it was dropped from a group of 35 foreign companies that qualified in June to bid for the development of eight enormous oil and gas fields on Sunday. Six state-run oil companies were later added to that group.

The company are still entitled to seek future contracts to develop secondary fields in this oil-rich nation.

Author: Jo Amey