Iraq awards 7 new projects in first day of 5-plus/6th licensing round

Three-day event kicks off with awards to KAR Group and multiple Chinese firms. Bids on 20 more projects expected in the next two days.
Iraqi Oil Minister Hayyan Abdulghani presides over the first day of the 5-plus/6th licensing round in Baghdad on May 11, 2024. (Photo credit: Prime Minister's Office)

Iraq’s Oil Ministry has begun a three-day process for awarding 29 oil and gas projects under the five-plus and sixth licensing rounds — the first time since 2018 that Iraq has held a bidding round.

On Saturday, the Oil Ministry awarded seven projects, including five to Chinese companies, and two to Iraqi Kurdish firm KAR Group, in a ceremony attended by Prime Minister Mohammed Shia al-Sudani at the Oil Ministry's headquarters in Baghdad.

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