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[size=36]Iraq launches a new licensing round to develop oil and gas fields[/size]
Economy | 09:09 - 05/11/2024
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Mawazine News - Baghdad
The activities of the fifth complementary round of oil and gas licenses and the sixth new round for the development of 30 oil and gas exploration fields and plots in various regions of the country will be launched today, Saturday, in the capital, Baghdad.
Sources in the Iraqi Ministry of Oil stated that the new round of licensing contracts in which international companies will compete has previously been subjected to evaluation and study for qualification by the Ministry to enter the competition to win investment in these fields and exploratory patches.
The sources explained that the ministry has identified 30 new fields and exploration areas for investment for competing companies, distributed in different areas of the country, most of which are in the governorates of Nineveh, Anbar, and Najaf.
Iraq is seeking to obtain new investments to increase the production capacity of oil and gas in new areas of the country.
The Deputy Prime Minister of the Iraqi Government and Minister of Oil, Hayan Abdul Ghani, expected that the investments of the fifth complementary and sixth licensing rounds, which will be launched in Baghdad tomorrow, Saturday, for oil and promising gas exploration blocks, will achieve an increase of up to 3 thousand million cubic feet of gas.
The activities of the fifth complementary round of oil and gas licenses and the sixth new round for the development of 30 oil and gas exploration fields and plots in various regions of the country will be launched today, Saturday, in the capital, Baghdad.
Sources in the Iraqi Ministry of Oil stated that the new round of licensing contracts in which international companies will compete has previously been subjected to evaluation and study for qualification by the Ministry to enter the competition to win investment in these fields and exploratory patches.
The sources explained that the ministry has identified 30 new fields and exploration areas for investment for competing companies, distributed in different areas of the country, most of which are in the governorates of Nineveh, Anbar, and Najaf.
Iraq is seeking to obtain new investments to increase the production capacity of oil and gas in new areas of the country.
The Deputy Prime Minister of the Iraqi Government and Minister of Oil, Hayan Abdul Ghani, expected that the investments of the fifth complementary and sixth licensing rounds, which will be launched in Baghdad tomorrow, Saturday, for oil and promising gas exploration blocks, will achieve an increase of up to 3 thousand million cubic feet of gas.
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