Iraq finalizes contracts for latest ‘Energy Licensing Rounds’

Iraq's Ministry of Oil has finalized contracts for the "fifth-plus" and sixth oil licensing rounds with the successful companies.

Minister Abdul Ghani highlighted that these agreements, which cover the development of oil and gas fields and exploration blocks across several provinces, are poised to boost Iraq's production capacity by 800-850 million standard cubic feet (mmscf) of gas and 750,000 barrels of crude oil per day.

The Minister noted Iraq's substantial plans to develop untapped exploratory blocks and undeveloped fields in upcoming rounds, with an eye toward increasing the country's reserves of both oil and gas.

According to a statement, these new projects will ensure a stable supply of fuel for power generation, petrochemical industries, and various other sectors, while also creating numerous job opportunities for Iraqi graduates, skilled workers, and craftsmen across different provinces. Collaborations with both international firms and the private sector are expected to drive local employment and economic development.

• Basra Oil Company signed the following development contracts:

• Fao: United Energy Group (UEG)

• Jabal Sanam: Geo-Jade

• Maysan Oil Company signed:

• Ad Daimah: KAR Group

• North Oil Company signed:

• Alan: KAR Group

• Sasan: KAR Group

• Dhi Qar Oil Company signed:

• Sumer: Sinopec

• Addan:  Sinopec [Note that the Ministry of Oil had previously announced that Sinopec bid for the Addan block, but the price was not accepted by the Ministry.]

• Abu Khema: Zhenhua Oil

Central Oil Company signed:

• Middle Furat (Euphrates): Zhongman ZPEC

• Northern Extension of East Baghdad: Zhongman ZPEC

• Khliesiea: KAR Group

• Qurnain: Zhenhua Oil

• Zurbatiya: Geo-Jade

• Dhufriyah: Anton Oil

This announcement does not mention the signing of a contract for Block 7, which was previously announced has having been won by China National Offshore Oil Corporation (CNOOC).

Click here to find a comprehensive list of oil and gas fields under the control of the Ministry of Oil in Baghdad. This listing covers 67 fields, and has been updated with the results of this week's fifth-plus and sixth licensing rounds. Simply click on any field in the list to find more details.

(Source: Iraq Oil Ministry)