An Oil Ministry spokesman says the names of the firms and the details of the five oil fields they will work on will be announced by the end of this month.
Technical service agreements have previously been signed with oil majors including ExxonMobil Corporation, Chevron and ConocoPhillips of the US, the UK/Dutch Shell Group and the UK’s BP. The same companies are expected to be involved in the new round of agreements.
The first round of tenders will focus on the development of existing fields, including South Rumeila and North Rumeila, West Qurna, Zubair, Missan, Kirkuk and the western Akkas gas field, although just five of them are likely to be the subject of new technical service agreements.
Oil Minister Hussain al-Shahristani told MEED earlier this year that each contract, thought to be worth around $500m, would increase production by 100,000 b/d per field (MEED 8:2:08).
Iraq has revealed plans to more than double oil production within five years in tandem with international oil companies.