Iraq launches oil licensing round

10 January 2008
Baghdad has launched its first international oil and gas licensing round since the US-led invasion in 2003.

International companies have until 31 January to apply for prequalification for the exploration and production round, the Oil Ministry has announced.

The acreage covered by the round was not specified.

Iraq, which has the third-largest oil reserves in the world, aims to increase production to 4 million barrels a day (b/d) by 2009, from 2 million b/d in 2006.

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