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Iraq to announce 10 oil fields in 2nd bidding round for oil, gas contracts |
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20:41, December 30, 2008 |
Iraqi Oil Minister Hussein al-Shahristani said Tuesday that his ministry will offer ten oil fields to be developed by international companies in its second licensing round on Wednesday.
In an interview aired Tuesday with the state-run television of Iraqia, al-Shahristani did not name the ten oil fields due to be announced in the second round of licensing, but said that they would include the southern field of Majnoon and West Qurna Phase 2.
Shahristani will hold a press conference in the ministry building before noon on Dec. 31 to announce the petroleum fields that his ministry intends to develop in cooperation with the pre-qualified international oil companies.
In April, the Iraqi Oil Ministry said that only 35 companies and consortia out of 120 applicants were qualified to criteria put by the ministry to bid on its contracts.
Iraq offered six oil and two gas fields in the first licensing round.
Iraq oil reserve is reportedly to be the world's third-largest, which needs billions of dollars investment to overhaul its oil industry infrastructure and increase oil and gas output after 13 years of sanctions and war.
Source: Xinhua
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