Two bids were settled today.

The large Magnoon field was taken by Royal Dutch Shell and Petronas (Malaysia), joint bidders. $1.39/bbl, 20 year service contract.

The smaller Halfaya field went to China CNPC, Petronas and Total (France), joint bidders, $1.40/bbl.

Petronas, the Malaysian state oil company, is a growing player in oil field development.

No bids were made for the East Baghdad and Eastern fields. Security is deemed to remain low in these areas.