The Ministry of Petroleum of Iraq has announced that it has not yet decided on the third round of bidding. However it is now focusing on making a decision on exploration opportunities. “Once the third round of biddings is announced, the Ministry will seek to invite companies for exploring new oil rigs and not for developing the existing fields”, said a source in the Ministry of Oil, stressing that companies will be allocated parcels of land for carrying out explorations and research to discover potential oil wells.
“The Ministry has formed committees for negotiating with neighbouring countries to continue the negotiating process in order to develop appropriate solutions for the demarcation of the fields, and clarification of the rights of the states with respect to these fields” added the source, expressing hope that agreements with Iraq neighbouring countries to be reached in the coming days to resolve the outstanding issues which would allow joint development of the fields to begin.
Al Sabah, Baghdad
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