Iraq opens border blocks for new investment
Foreign oil companies are invited to propose contracts – though not production sharing – for eight exploration blocks on the borders with Iran and Kuwait, as well as one offshore exploration block.
Iraqi Oil Minister Jabbar al-Luiebi (third from left) marks the start of the third phase of development at Missan's Halfaya field on July 8. Earlier in the day, he presided over a ceremony marking the start of drilling at the Huwaiza oil field by the Iraqi Drilling Company. Huwaiza is one of nine assets offered July 10 to investors. (Source: Iraqi Oil Ministry's Media Office)
Iraq's Oil Ministry has named nine oil and gas projects – both discovered fields and exploration blocks – along the borders with Iran and Kuwait available for foreign oil company investment by the end of the year.
"The Oil Ministry declares the launch of exploration, development and production projects in a number of the explored sites and oil fields on the borders (sea and land) in the south and middle of Iraq," the ministry's Petroleum Contracts & Licensing Directorate (PCLD) said in a statement posted on the ministry's website on Monday.
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