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Iraq to hold 4th energy bidding round in November

Iraq to hold 4th energy bidding round in November

Iraq's oil minister says the country's fourth energy bidding round would be held next November.
Abdul-Karim Elaibi said on Tuesday that 12 exploration blocs would be offered up for bidding before international oil companies.
He says 70 percent of the offered blocs would be natural gas and the rest combined oil and gas.
Iraq has held three international bidding rounds since late 2009 in an attempt to attract international money to beef up its beleaguered oil and gas industry.
Iraq relies almost exclusively on oil and gas for its budget revenues.


Updated : 2021-01-18 03:34 GMT+08:00