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Iraq holds oil, gas licensing round for 29 projects

Middle East News

11-05-2024 | 04:40

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Iraq holds oil, gas licensing round for 29 projects

Iraq is holding an oil and gas licensing round for 29 projects in a bid to develop its huge gas reservoirs to help power the country and lure billions of dollars in investments.

The exploration blocks are spread across 12 governorates in mostly central and southern Iraq and for the first time include an offshore exploration block in Iraq's Arab Gulf waters.

Iraq, OPEC's second-largest producer after Saudi Arabia, last held a licensing round, its fifth, in 2018.

Saturday's "fifth plus" licensing round includes many projects left over from that round plus a new sixth round with 14 projects, Iraq's oil minister Hayan Abdel-Ghani said in opening remarks.

Reuters

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