Iraq's Minister of Oil has invited international companies to bid to develop new oil fields, in what is being described as an annex to the Fifth Licensing Round.This round includes 13 exploration fields and sites distributed across the northern, central, and southern provinces. The announcement complements the Ministry's previous declaration in 2018 regarding the Fifth Licensing Round and the subsequent contract signings in February 2023.The Minister emphasized that the goal of this round is to enhance oil and gas production and reserves, as well as encourage investment in the oil sector in collaboration with specialized international companies involved in the development of oil and gas fields and sites.This round includes four exploration areas that were offered but not granted in the Fifth Licensing Round in 2018, in addition to nine new fields and sites:Not granted in previous round:Faw [Fao] Area - Basra Governorate.Jebel Sinam [Jebel Sanam, Jabal Sanam] Area - Basra Governorate.Shihabi Area - Maysan and Wasit Governorates.Zarbatia [Zurbatiya, Zurbatia] Area - Wasit Governorate.New offers:Deima [Dima, Deema, Dimah] Field - Maysan Governorate.Qalat Saleh Area - Maysan Governorate.East Baghdad Field - Northern Extensions - Baghdad and Salahuddin Governorates.Dhubarriya [Dhafriya] Field - Wasit Governorate.Alan [Allan] Field - Nineveh Governorate.Sasan Field - Nineveh Governorate.Balkana Field - Salahuddin Governorate.Abu Khaymah [Abu Khaima, Abu Khema] Field - Basra Governorate.Middle Euphrates Fields (Kufil [Kifl], West Kufil, and Marjan [Merjan, Mergan]).The Oil Minister stressed the commitment to the government's agenda and the esteemed Prime Minister's directives to increase oil and gas reserves, sustain and increase national crude oil and free gas production, and process associated gas from oil operations into a valuable and productive resource that meets domestic needs, especially for power plants, petrochemicals, fertilizers, and other industries. The surplus can be exported to global markets to generate financial revenues that contribute to the state treasury, support the national economy, and achieve sustainable development, as well as uplift the economic situation in provinces in the north, central, and south while providing employment opportunities for their residents.The spokesperson for the Ministry of Oil, Asim Jihad, stated that the Ministry has invited specialized global companies engaged in exploration, development, and production activities interested in competing for investment opportunities within the Fifth Licensing Round to formally submit their applications to the Ministry of Oil / Petroleum Contracts and Licensing Department (PCLD).The applications should be sent to the official email dg_pcld@oil.gov.iq no later than the end of the official working day on June 15, 2123. Companies can also review the required procedures and conditions for participating in this round after passing the pre-qualification process based on the standards approved by the Ministry of Oil, particularly for companies that have not previously undergone pre-qualification (ICE AMMAN)

Fonte notizia: IRAQ BUISNESS NEWS