Oil Ministry pauses plan to contract 12 fields
Iraq had invited IOCs to bid on new development deals. But now state companies will handle some of those fields, and Iraq will delay contracting others until next year.
Oil Minister Jabbar al-Luiebi (center) meets with other senior Oil Ministry staff. (Source: Oil Ministry)
BAGHDAD - The Iraqi Oil Ministry said it is revising its plans announced last month to put up 12 oil fields for foreign oil company development.
In a statement issued Thursday, the ministry's Petroleum Contracts and Licensing Directorate said it would announce the new plans in the middle of next year.
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