The auction offered blocks on the borders with Iran, Kuwait, plus offshore Gulf waters. Iraqi-owned, UAE-based Crescent Petroleum were the biggest winner, securing three blocks. Meanwhile, Geo-Jade of China secured two and United Energy Group also of China secured one. ENI made two bids however came unsuccessful as the only International major taking par
Abdul Al-Ameedi, general director of Iraq’s Petroleum Contracts and Licensing Directorate, said there are numerous factors behind the failure to attract bids for five of the blocks. He also advised that there may be another auction for the five remaining blocks in future.