Iraqi Minister of Oil Jabbar Ali Al-Luiebi said he expects production to reach 500,000 b/d of oil from six fields to be rehabilitated under contracts awarded this month after a recent bid round.
Five of 11 blocks offered near the Iranian and Kuwaiti borders received no bids (OGJ Online, Apr. 26, 2018). In a last-minute change, the government assessed bids on the basis of net revenue-share.
The contracts remain subject to final approvals.
Crescent Petroleum of Sharjah will receive contracts covering Klabat-Gumar and Khashm Al-Ahmar-Injana fields in Diala governate and Khudr Al-Mai field in Basra governate.
Contracts awarded to Geo-Jade Petroleum of China cover Naft Khana field in Diala governate and Howaiza field in Maysan governate.
And United Energy Group of China will receive a contract for Sindbad field in Basra governate.
