Iraq puts 30 oil and gas blocks on offer

Iraq

BAGHDAD, October 9, 2023 – Iraq has set a January 2024 deadline for its fifth plus and sixth oil and gas licensing rounds, Reuters reported on Tuesday.

Blocks on offer consist of 16 concessions under the fifth plus bid round, which include some blocks not awarded in the country’s fifth oil and gas bid round.

The sixth oil and gas bid round consists of 14 licences.

OPEC’s second-largest producer signed its largest foreign investment in July 2023 worth USD 27 billion with French energy giant TotalEnergies to enhance oil and gas production and build downstream and power generation assets.

The deal is part of Iraq’s Gas Growth Integrated Project.

The nation contains 145 billion boe of proven reserves.

ExxonMobil, Shell, BP, China National Petroleum Corporation and Lukoil all operate in the country.

Read our latest insights on:

• Iraq

Previous

ExxonMobil plans $60-bln oil and gas acquisition

Next

Iran increases reserves with four new discoveries