Baghdad – INA – Amna Al-Salami
Today, Tuesday, the Ministry of Oil clarified the mechanism for announcing its projects and contracts and competing with companies wishing to invest in them, while confirming that its future plans focus on developing gas fields to maximize national production.
The Ministry’s spokesman, Asim Jihad, told the (INA): “Projects for developing oil fields, exploration, or otherwise, are announced by the Ministry of Oil through licensing rounds that include a group of oil or gas sites or fields, so companies wishing to invest apply.” In these fields.
Jihad continued: “After that, qualified companies are nominated in this framework that have experience, specialization and are able to develop these sites, whether they are discovered and undeveloped sites or undeveloped productive fields,” explaining that “the last contract that was announced and signed was within the fifth licensing round.” Which included a number of fields and sites in central and southern Iraq, and then the Ministry announced the fifth licensing round (Appendix), which also included the number of sites.
He pointed out, “The Ministry announced the sixth licensing round, which included oil and gas hydrocarbon sites and structures, but most of them were gaseous,” adding, “The Ministry set specific timings to receive companies interested in the projects announced in the fifth annex and sixth licensing round to develop the fields.” .
He explained, “Competition in the licensing rounds is public, as the aforementioned field is displayed, and thus the advanced companies compete to develop this field, area, or site, whether it has gas or oil hydrocarbon compositions, an oil field, or a gas field,” stressing that “the process It is done with complete transparency.”
He pointed out, “The Ministry’s plans during the next phase focus on gas fields and structures, in order to maximize national production in the gas sector, which constitutes an importance and priority in the Iraqi oil industry.”