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[size=36]The Ministry of Oil sets the launch date for the fifth and sixth licensing rounds[/size]
Economy | 08:52 - 06/05/2024
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Mawazine News - Baghdad
The Ministry of Oil has set May 11 as the date for the launch of the fifth and sixth complementary licensing rounds.
Assistant Director General of the Department of Petroleum Contracts and Licensing in the Ministry, Muhammad Najm Al-Saadi, said: “The sales of information bags for the fields that will be presented during the two rounds are still continuing despite reaching more than 20 bags,” indicating that “the National Agency for Hydrocarbons (ENI), the giant Italian exploration And oil extraction, and Shell, the leader in the field of the oil market) were among the advanced companies that bought these portfolios.”
Al-Saadi revealed, “The two rounds will be launched next week, and the total number of projects proposed in them is 30 projects distributed by 16 projects within the supplementary fifth round appendix, including 8 exploration blocks with oil promise, and 8 oil fields,” noting that “14 projects within the sixth round, including 11 exploration blocks with gas promise and 3 with oil promise.”
The Ministry of Oil aims through these rounds to maximize the country’s oil and gas reserves and support the energy sector. And related industries, and improving the economic, social and environmental reality of the Iraqi governorates by investing resources in cooperation with international companies.
Assistant Director General of the Department of Petroleum Contracts and Licensing in the Ministry, Muhammad Najm Al-Saadi, said: “The sales of information bags for the fields that will be presented during the two rounds are still continuing despite reaching more than 20 bags,” indicating that “the National Agency for Hydrocarbons (ENI), the giant Italian exploration And oil extraction, and Shell, the leader in the field of the oil market) were among the advanced companies that bought these portfolios.”
Al-Saadi revealed, “The two rounds will be launched next week, and the total number of projects proposed in them is 30 projects distributed by 16 projects within the supplementary fifth round appendix, including 8 exploration blocks with oil promise, and 8 oil fields,” noting that “14 projects within the sixth round, including 11 exploration blocks with gas promise and 3 with oil promise.”
The Ministry of Oil aims through these rounds to maximize the country’s oil and gas reserves and support the energy sector. And related industries, and improving the economic, social and environmental reality of the Iraqi governorates by investing resources in cooperation with international companies.
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