Ministry of Oil Confirms “Completely Different” 5th Round Contracts
By John Lee.
Iraq’s Petroleum Contracts and Licensing Directorate, part of the Ministry of Oil, has announced that it is working on the launch of the country’s 5th energy licensing round.
This round of bidding will relate to gas prospects only, with the PCLD saying it will:
- Choose the exploratory areas that have high and promising gas prospects.
- Make changes in the rules and contractual & economic conditions for the service contracts of the previous licensing rounds which will make the contract in this round completely different from the previous contracts between the ministry and the international companies.
(Source: Ministry of Oil)