A delegation led by Iraq's oil minister Hussain al-Shahristani will present prequalified companies at a meeting in London on Monday with geological data on the fields, as well as details on the financial terms of the contracts and the process for applying, Tom Bergin reports for Reuters. The contracts on offer are service contracts, which mean the winners will be paid a flat fee to produce the oil rather than receive an equity stake in the fields or any share of profits. Forty-one companies, including most of the big international oil companies, have qualified to bid.
A member of the Parliament and the Parliament Oil and Gas Committee announced that a draft law that both the Kurdistan Regional Government and the central government agreed upon will be submitted to Parliament for discussion and final approval, Aiyob Mawloodi reports for The Kurdish Globe. Bayazid Hassan, a Kurdish MP on the Kurdistan Alliance List, told a local Kurdish news agency that the Iraqi Minister of Oil, Hussein al-Shahristani, has promised to send a copy of the draft to Parliament.
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