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The Ministry of Oil Holds a Conference at Thursday to Develop 11 Exploration Zones

The Ministry of Oil said that the New Round will Include the 11 Exploration Zones Which are Located on the Border Between Iraq – Iran and Iraq – Kuwait, Including One Offshore Zone on the Gulf.

The ministry of oil holds a conference at Thursday the 29th of March to announce for a new round to develop and rehabilitate 11 exploration Zones on the borderline.

   Mr. Assim Jihad the spokesman of the ministry of oil said that the new round will include the 11 exploration zones which are located on the border between Iraq – Iran and Iraq – Kuwait, including one offshore zone on the Gulf. He said also that the conference which will be organized by the ministry of oil will be attended by 13 international companies which have purchased the data portfolios, in addition to 2 companies which intended to buy data portfolios. These 15 companies will compete on the development & rehabilitation of the exploration zones. Out of (26) companies to participate in the competition.

   Mr. Jihad said that the petroleum contracts & licensing directorate will present during the conference an explanation about the basic features & modifications which was made on the contract according to the notes of the ministry and some of the members from the cabinet, the government and some experts. He said also that the form of the contract will be “service contract with a few modifications”.

   It is worthy to say that the exploration zones which was determined by the ministry of oil was 9, and then 2 zones were added which are located on Diala governorate. Which are (Injana, Khashm Al-Ahmar, Klabat and gumar).

Source: Ministry of Oil

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