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Iraq may delay gas fields auction

01 August 2010

Iraq's oil ministry has said the country could postpone an auction for companies seeking to develop its gas fields to give them more time, Reuters has reported. The government had said it will invite all 45 international companies, who were prequalified in the two oil auctions last year, to bid to develop three gas fields and the auction was to have taken place on September 1. "I think there will be an extension for the period... It could be by the end of October or start of November, until now the date has not been agreed upon," oil ministry spokesman Asim Jihad told the news service. The ministry will hold a workshop in Istanbul today and tomorrow to discuss details of the gas bidding round and contract terms with interested bidders.

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