伊拉克石油服务合同项目成本回收策略——哈法亚项目的探索与实践

Cost-recovery strategies under Iraqi oil development and production service contracts——The PetroChina Halfaya Project's proven practices

近几年伊拉克政府采用服务合同模式进行了四轮石油合同招标,合同的报酬费率都偏低。标准合同为投资者提供了现金和提油两种方式来回收成本和报酬费,国际石油公司一般采取提油的方式。在每个成本回收季,投资者需要向伊拉克石油部和国家石油公司提交成本回收发票,再根据规定的程序提油。为了提高哈法亚项目的效益和保证投资的安全性,项目公司采取了调整投资节奏、争取提前投产、提早沟通成本回收程序、提前预测现金支出等措施,用最少的投资和最短的时间达到初始商业产量目标,实现了投资者效益的最大化,并将投资者风险降到了最低水平。

Iraq government offered service contracts in its four oil bidding rounds, with a low remuneration rate. Standard contracts give investors two options to recover cost and remuneration: cash payment or lifting oil. International oil company investors generally select lifting oil. In every lifting quarter inventors need to submit invoices for cost recovery to Iraq's Ministry of Oil and the State Oil Marketing Organization, according to procedure for oil lifting. To assure investment safety and return, Halfaya adopted the following strategies: adjusting the pace of investment, achieving early first commercial production(FCP), communicating the intended cost recovery procedure early, and forecasting cash flow and taking other measures to achieve FCP using less investment in shorter time. Halfaya's strategies have been proven feasible and efficient, achieving FCP in 2012 and recovering all outstanding costs within a year, thereby maximizing return and minimizing risk on the investment.