The oil ministry announced on Tuesday that it plans to explore oil and gas in new oil fields on the border with Kuwait and Iran, calling on international companies to submit their requests to participate in these explorations.
The ministry said in a statement published on its website (July 11, 2017) that it is inviting international oil companies to apply for qualification to participate in a project to explore and develop eight patches on the border with Kuwait and Iran, in addition to another freely.
Noting that “the patches located on the border of Kuwait is the water vegetables and Mount Sinam and Umm Qasr The patches located on the border with Iran is Sinbad, which is located in the field of Sinbad, and the Hawiye, which is located in the field of Haweezah and the installation of southern Hawizah, and Alshbani, Zarbatia, Where the installation of the oil of the southern box and the fields of oil cena, Naudoman and Tal Ghazal, and explained that the sea area is the patch of the Arabian Gulf, which lies within the territorial waters of Iraq in the Gulf.
The Ministry asked qualified companies to participate in the submission of proposals on the commercial forms of oil contracts, so that companies wishing to submit all relevant documents by “20 August 2017.
Iraq had earlier said it would continue to abide by the recommendations of oil-exporting countries, “OPEC” on the reduction of production in order to support prices in global markets, which declined significantly in 2014 - 2015.