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Iraq Oil Ministry To Sign Six New Development Bloc Contracts

April agreements to be signed in the next few days

The Iraq Oil Ministry has this weekend announced plans to sign contracts to award six new development blocs for oil and gas exploration. Iraqi-owned but UAE-based Crescent Petroleum have secured three of these contracts, with two awarded to Geo-Jade and one with United Energy Group who are both Chinese exploration companies.

This news follows agreements with these companies after the Oil Ministry released tender offers for eleven development blocs back in March. There were no suitable offers received for the remaining five blocs, however these may be re-released again in future.

Source: RUDAW

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