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Chinese companies win more bids to explore for Iraq oil and gas

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Chinese companies win more bids to explore for Iraq oil and gas

BAGHDAD -Chinese companies won five more bids to explore Iraqi oil and gas fields, Iraq's oil minister said on Sunday, as the Middle Eastern country's hydrocarbon exploration licensing round continued into its second day.

The oil and gas licences for 29 projects in total are mainly aimed at ramping up output for domestic use, with more than 20 companies pre-qualifying, including European, Chinese, Arab and Iraqi groups., that it wants to use to fire power plants that rely heavily on gas imported from Iran. However, no bids were made on at least six fields with gas potential, potentially undermining those efforts.

China's Geo-Jade won a bid to develop Iraq's Jabal Sanam field for oil exploration in Basra province, Iraq's oil minister added.

 

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