Friday 19 October 2018

Iraq invites exploration bids for 9 oil blocks

BAGHDAD, Iraq, November 27, 2017

Iraq will invite foreign energy firms to bid for the exploration and development of nine new oil and gas blocks bordering Iran and Kuwait, a media report said.

The exploration blocks which are located in the south and east of the country and include one offshore block in the territorial waters, reported Times of Oman, citing an oil ministry statement.

"The ministry is targeting to boost both production and reserves of oil and gas in cooperation with international companies," said the ministry statement.

The blocks on offer are located in the provinces of Basra, Misan, Muthanna, Wasit and the Central Diyala province.

The contracts will be different from previous service contracts Iraq signed with foreign firms to develop the country’s giant southern fields, said the statement.

Tags: Iraq | exploration | Oil blocks |

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