Nassiriya bid postponed until June 19

Iraq has postponed for five months the bid round for the 300,000 barrels per day (bpd) Nassiriya oil and refinery project as the Oil Ministry tries to enhance contract terms to assure good turnout.

"The Petroleum Contracts and Licensing Directorate decided to postpone the final bid date for Nassiriya project to Thursday, June 19, 2014, for the purpose of reconsidering the contract model for the project also in order to make some necessary adjustments and notify international oil corporations," Oil Ministry spokesperson Assem Jihad said in a statement.