03 Oct, 23

Iraq Set To Award 30 Oil And Gas Projects In Two Licensing Rounds

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Iraq is inviting international companies to bid for 30 new oil and gas projects in two licensing rounds until January 2024, as OPEC’s second-largest oil producer looks to boost crude production and reduce gas import dependence. The so-called “fifth plus” and sixth licensing rounds will have lower royalty rates and profit-sharing agreements that are expected to be of less burden to investors, Al-Hakam I. Al-Neama, the head of the exploration contracts division at Iraq’s Oil Ministry, said at the ADIPEC energy conference in…

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