Contract for next auction in September

Iraq outlines the plan for the two-day roadshow next month where pre-qualified oil companies will get details on the 12 exploration blocks in the January auction.
Iraqi Oil Minister Abdul Karim Luaibi (r) talks to reporters at the 159th meeting of the OPEC Conference in Vienna on June 8, 2011. Iraq's planned production increase and upcoming exploration blocks bidding round will challenge Saudi Arabia for primacy of the cartel. (JOE KLAMAR/AFP/Getty Images)

BAGHDAD - Iraq has extended next month's "roadshow" for foreign oil companies planning to bid in the January bidding round from one to two days, offering pre-qualified firms the long-awaited model contract and selling data on the areas to be put up for auction.

The country is continuing its massive, fast-paced effort to sink billions of dollars international oil company (IOC) money into producing, idle and undiscovered fields in the oil and gas sector. In late January, the 41 pre-qualified oil companies will bid on 12 exploration blocks.

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