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The Minister of Oil invites foreign companies to submit bids for oil and gas exploration
Iraqi Oil Minister Jabbar al-Luaibi called on foreign companies Monday to bid for oil and gas in nine new regions as the OPEC member seeks to boost its energy production by developing new oilfields.
"We are calling on all international companies to participate," the minister told a news conference in Baghdad attended by the economy news agency. "This new round is aimed at maximizing reserves."
"We are calling on all international companies to participate," the minister told a news conference in Baghdad attended by the economy news agency. "This new round is aimed at maximizing reserves."
Five concessions are located in the border areas with Iran and three with Kuwait as well as a offshore field in the Gulf waters, according to a presentation by oil ministry officials at the press conference.
The presentation indicated that "the opening ceremonies will take place on 21 June 2018".
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