ENERGY

Iraq says 26 companies allowed to bid for oil, gas blocks in border areas

This December 14, 2017 photo shows the Bin Omar natural gas facility, part of the Basra Gas Company, north of Basra. (AFP)

The Iraqi oil ministry said on Friday 26 companies have qualified to bid for oil and gas blocks in border areas.

Five companies qualified recently to take part in the bidding round, alongside 21 others already selected, the ministry said in a statement.

In November Iraq invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost its output capacity.

The bidding terms will be finalized by the end of May and the ceremony to open the bids will be held on June 21.
 

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Last Update: Friday, 12 January 2018 KSA 10:40 - GMT 07:40
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