Iraq will receive bids and auction exploration and development contracts to international oil and gas companies on Thursday April 26, the oil ministry said.
Iraq will receive bids and auction exploration and development contracts to international oil and gas companies on Thursday April 26, the oil ministry said.
The country is auctioning 11 onshore and offshore blocks located in border areas with Iran and Kuwait, and offshore Iraq.
Earlier this month, the ministry said that 14 international oil and gas companies were bidding for the contracts.
Initially set for June, the auction was moved to April 15 before the ministry pushed the deadline by 10 days give more time to the companies considering bidding for the licensing round.
Fourteen companies were sent documents for contracts which will include exploration, development and production from exploration blocks. Service contracts will also be tendered.
In a separate statement, Iraq’s oil ministry said the country exported 107 million barrels in March for US$6.44 billion at an average oil price for the month of $60.11. Meanwhile, exports from Kirkuk were not counted.
The crude oil was shipped by 39 multinational companies from ports of Basra, Khor Al-Omaima and the SPMs on the Arab Gulf, the ministry said.
Source: Pipeline ME
