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Iraq to offer 10 fields in 2nd oil licensing round

Iraq to offer 10 fields in 2nd oil licensing round

Iraq's oil minister says 10 undeveloped or underdeveloped gas and oil fields will be offered in its second licensing round beginning Wednesday.
Hussein al-Shahristani said the fields include Majnoon and West Qurna Phase 2 in southern Iraq.
Both are sizable fields that are currently producing far below their potential.
The minister spoke to state-run Iraqiyah TV on Monday.
Iraq recently opened its first round of bidding since the U.S.-led invasion of Iraq for contracts to develop six major oil fields and two gas fields. Those contracts are expected to be signed in mid-2009.
Iraq sits on more than 115 billion barrels of oil, but decades of war, U.N. sanctions, violence and sabotage have battered its oil industry.


Updated : 2021-07-30 16:42 GMT+08:00