Iraq Oil Ministry Calls for Third Bidding Round

Iraq’s oil minister on Thursday invited international energy companies to bid for contracts to develop three untapped natural gas fields in Middle Euphrates Provinces.

The Ministry added that it will work on developing those oil fields with national companies if international companies refused to invest therein. The same fields were included in the second round of bids.

The Ministry had set conditions consisting of producing 75000 barrels per day from these fields and the level of productivity shall be maintained all along 7 years with an investment rate of 100 million dollars at least. However, non of the oil companies have applied a bid until now.

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