US to request bids for oil contracts

The Army Corps of Engineers will solicit competitive bids for a contract to handle emergency repairs to the oilfields in Iraq, now estimated to cost approximately USD 650 million. Before the war began, the Corps of Engineers had signed what it calls “a bridge contract” with Halliburton Co., the second-largest provider of oilfield services, which was at one time run by Vice President Cheney, to handle fire-fighting and emergency repairs. But damage to the oil fields was less severe than expected, and, with more time now, the Corps of Engineers plans to solicit competitive bids, spokesman Scott Saunders said yesterday. According to Bloomberg News, KBR, which won its contract before the war began, already has done about USD 50 million of repairs, so the balance of the work to be bid would be USD 600 million.
Bids may be announced as soon as late April, but more likely in May with awards in June or July, US officials said The northern fields may start producing as much as 1 million b/d within a few weeks, while production restart in the southern fields may take several months.





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