Iraq to receive bids for developing oil, gas fields in June - InfoNews

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Iraq to receive bids for developing oil, gas fields in June

November 27, 2017 - 6:07 AM

BAGHDAD - Iraq says it will start receiving bids next June for projects to develop nine oil and gas fields in an attempt by the war-ravaged nation to boost energy revenues.

Abdul-Mahdi al-Ameedi, who heads the Oil Ministry's Licensing and Petroleum Contracts Department, said on Monday that detailed energy information on the nine areas in question will be disclosed at the end of this month.

Al-Ameedi says companies that bid on the projects will for the first time be able to take part in the drawing up of the contract, as an incentive for the bidders.

He says five of the nine fields or blocs as they are called are shared with Iran, three with Kuwait and one is located in the Persian Gulf.

Iraq has the world's fourth largest oil reserves.

News from © The Associated Press, 2017
The Associated Press

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