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Iraq considers PSAs in second licensing round

04/06/2009
Iraq is considering offering exploration blocks under production-sharing agreements (PSA) this year for its second licensing round, according to Oil Minister Hussain Al-Shahristani. Along with other measures, the PSAs could help the nation boost oil production to 6 million b/d from 2.5 million b/d over the next 6 years, he said. Speaking at the Organization of Petroleum Exporting Countries’ recent international seminar in Vienna, Al-Shahristani said there are 65 blocks that hold oil and gas potential, but Iraq has not yet decided which blocks to offer under production-sharing contracts. During his address, he said he wants operators to invest $35 billion to improve Iraq’s fiel...
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