Oil Ministry Conf on Development of 11 Exploration Zones

By John Lee.

Iraq’s Ministry of Oil will hold a conference on Thursday 29th March to announce for a new licensing round to develop and rehabilitate 11 exploration zones on the borders of Iran and Kuwait, including one offshore zone on the Gulf.

The conference will be attended by 13 international companies which have purchased the data portfolios, in addition to two companies which intended to buy data portfolios.

These 15 companies will compete for the rights to develop and rehabilitate these exploration zones.

Assim Jihad, spokesman of the Ministry of Oil, said also that the form of the contract will be “service contract with a few modifications”.

(Source: Ministry of Oil)