Iraq will hold a bidding round for oil and gas exploration contracts on April 27, the oil ministry said on April 18.
Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country as it seeks to produce much needed natural gas for power stations and cut imports burdening the country's budget.
The "fifth plus" round includes 16 projects, some of which were not awarded in the fifth licensing round, while the sixth round will offer mainly exploration gas blocks, the ministry said in a statement.
The country flares much of its own gas, extracted alongside crude oil at its fields, because it lacks the facilities to process it into fuel. Instead, it uses Iranian power imports to generate electricity.
Iraq has been under pressure from Washington to reduce dependence on Iran for energy.
Recommended Reading
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Aker BP’s Hanz Subsea Tieback Goes Onstream
2024-04-22 - AKER BP’s project marks the first time subsea production systems have been reused on the Norwegian Continental Shelf.
E&P Highlights: April 22, 2024
2024-04-22 - Here’s a roundup of the latest E&P headlines, including a standardization MoU and new contract awards.
Deepwater Roundup 2024: Americas
2024-04-23 - The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
Technip Energies Wins Marsa LNG Contract
2024-04-22 - Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.