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Iraq has invited foreign firms to bid for new hydrocarbon concessions within the sixth round of oil and gas licenses with the aim of developing the OPEC member’s hydrocarbon reserves.
Iraq’s Oil Minister Hayan Abdel Ghani said round six involves 11 concession areas and the aim is to increase oil and gas deposits as part of a post-war development plan.
Abdel Ghani, quoted by Aliqtisad News and other Iraqi publications on Monday, said nine concession areas are based in Al-Anbar, Iraq’s largest governorate which encompasses most of its Western part and borders Saudi Arabia, Syria and Jordan.
Two other areas are based in the Northern Nineveh Governorate, the Minister said, adding that Iraq also aims to increase gas resources for petrochemical and fertiliser industries and the operation of its power plants.
“Companies interested in participating in this round are invited to submit their applications to the contract and licensing department at the Ministry,” he said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
