Under Patronage and Attendance of Deputy Prime Minister for Energy Affairs and Minister of Oil Signing Final Form of Contracts of 5th Supplementary and 6th Licensing Rounds

Under the patronage and attendance of the Deputy Prime Minister for Energy Affairs and Minister of Oil, Mr. Hayan Abdul-Ghani Al-Sawad, the Ministry of Oil signed the final form of contracts of the 5th supplementary and 6th licensing rounds with the winning companies.

“The Ministry today signed contracts with the winning companies to develop oil and gas fields and exploration blocks located in a number of governorates” The Minister said. He pointed out that the development operations will add production capacities estimated at (800-850) cubic meters of gas and (750) thousand barrels of crude oil, indicating that this comes within the government program and the directives of the Prime Minister, Mr. Mohammed Shia Al-Sudani, to increase investment in the gas sector and achieve sustainable economic development. Al-Sawad added that the Ministry has great and promising plans to develop exploration blocks and undeveloped discovered fields in upcoming rounds to increase the country's oil and gas reserves. The Minister pointed out that these promising projects will provide fuel for power generation stations, petrochemical industries and other industries and will provide great job opportunities to Iraqi graduates, workers and craftsmen in different governorates through working with foreign companies or with the private sector.

Director General of Basra Oil Company, Mr. Basim Abdul Karim, signed the Faw Block Development Contract with the Chinese Company (UEG), and the "Jabal Sanam" Block Development Contract with Geo-Jade Petroleum Corporation, while the Director General of Maysan Oil Company, Mr. Hussein Kazim, signed Al-Dimah Field Development Contract with the Iraqi company (KAR), and the person in charge of managing the North Oil Company, Mr. Amer Khalil Ahmed, signed the Allan and Sasan Field Development Contract with the Iraqi company (KAR), and the Deputy Director General of Dhi Qar Oil Company, Mr. Saeed Sagheer Shalaka, signed Sumer Block Development Contract and Adan Block Development Contract with the Sinopec Company and Abu Khaima Field Development Contract with the Chinese company (Zhenhua), while the Director General of the Midland Oil Company, Mr. Mohammed Yassin Hassan, signed East Baghdad Field Development Contract and Middle Euphrates Fields with the Chinese company (ZEPC), and Al-Khulaisiya Block Development Contract with the Iraqi company (KAR), and Al-Qarnain Block Development Contract with the Chinese company (Zhenhua), and Zurbatiya Block Development Contract with the Chinese company Geo-Jade Petroleum Corporation, and the Developing the Dhafra field with Anton Oil Company). 

It is noteworthy that the Ministry of Oil organized the fifth supplementary and sixth licensing round event last May in the presence of Prime Minister Mr. Mohammed Shia Al-Sudani, during which 29 fields and exploration blocks were presented for competition to international and local companies, 14 of which were referred to companies that were qualified to participate in the licensing round.