Iraqi Oil Minister Jabar al-Luaibi has said that companies qualified to bid in the latest round of oil and gas licensing round will be announced on 29 November, according to a Bloomberg report.

The rights to explore nine oil and gas sites are being auctioned in the licensing round.

Five blocks are located near the border with Iran. Three blocks are located near the border with Kuwait and one site is located in Iraqi territorial waters off the Persian Gulf.

Iraq has said the areas were previously “neglected” because of political tensions between Iraq and its neighbours in the 1980s and 1990s.

Luaibi has said that the bidding terms will be finalised by the end of May next year and the ceremony to open the bids will be held on 21 June 2018.