Iraq announces oil and gas tender for international companies

Iraq has invited international energy companies to participate in the new round of licensing its oil and gas fields, Oil Minister Abdul Karim Luaybi said, Reuters reports. The fourth auction for the distribution of Iraqi oil and gas licenses is expected to take place in November 2011, RBC reports.

As noted by the Oil Minister of Iraq international oil companies were offered 12 sites in March 2011 containing 29 billion cubic meters of gas and 10 billion barrels of oil.