In an upcoming effort to attract investors to nine exploration blocks, Iraq will scrap its signature technical service contracts.
Oil Minister Jabbar al-Luiebi (right) announces details of upcoming investment opportunities at the Oil Ministry in Baghdad on Nov. 27, 2017. (STAFF/Iraq Oil Report)
Published Tuesday, November 28th, 2017
BAGHDAD - Iraqi Oil Minister Jabbar al-Luieibi indicated Monday that the country will introduce significant changes to its next round of oil contracts.
"The anticipated contracts with international oil companies represent an important step toward a new commercial model and financial terms that are different from the former contracts," Luiebi said.
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