Iraq Offers 12 New Oil Blocks in 4th Round

Iraq’s Oil Ministry announced on Monday the launch of the fourth round of oil licences for 12 sites in the provinces of Nineveh [Ninawa], Anbar, Diyala, Wasit [Wassit], Basra, Najaf, Muthanna, Qadisiya, and Babil, indicating that the majority of areas include gas and oil.

Iraq formally invited international energy firms to compete for these new exploration blocs, but delayed the auction from November until January of next year.

The Iraqi Oil Minister Abdul Karim al-Luaibi [Elaibi] said during a press conference held at the ministry that the 12 sites include:

  • one in Nineveh province with an area of ​​7300 square kilometers;
  • a second site in Nineveh and Anbar with an area of ​​8000 km2 and in which gas is likely to be present;
  • third, fourth, and fifth sites in Anbar with areas of 7,000 – 8,000 km2 and 9,000 km2 in which gas is likely to be found;
  • a sixth site in Najaf and Anbar with an area of ​​9000 km and in which gas might be present;
  • a seventh site in Qadisiyah, Babil, Najaf, Muthanna with an area of ​​6000 kms and in which oil is likely to be present;
  • An eighth site in Diyala and Wasit on an area of ​​6,000 km2 with a high probability of the presence of gas;
  • a ninth location in Basra with an area of ​​900 km2;
  • a tenth site Muthanna and Dhiqar [Dhi Qar] with an area of ​​5500 kms and in which oil is likely to be present;
  • locations 11 and 12 in Muthanna and Najaf with an area of ​​16,000 km and in which gas is likely to be present.

“The companies that will participate in the fourth round of oil licenses are the companies that contracted with the ministry during the first and second licensing round as well as companies that the ministry didn’t sign oil contracts with.”

The ministers said in March that the blocks contain a combined 29 billion cubic meters of gas and 10 billion barrels of crude.

(Sources: Reuters, Bloomberg, AKnews)

 

One Response to Iraq Offers 12 New Oil Blocks in 4th Round

  1. […] contracts and licensing directorate, told Reuters on Sunday.The 4th bidding round for the 12 new exploration blocs is expected to add 29 trillion cubic feet of gas and 10 billion barrels of oil to Iraqi reserves […]

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  1. 41 Companies Qualify for Iraq’s 4th Energy Auction | Iraq Business News - August 8, 2011

    […] contracts and licensing directorate, told Reuters on Sunday.The 4th bidding round for the 12 new exploration blocs is expected to add 29 trillion cubic feet of gas and 10 billion barrels of oil to Iraqi reserves […]