Piece of the pie: in Iraq
Suitors put their case to Baghdad
More than 70 international players have registered to compete for tenders to help develop Iraq's oil reserves, Oil Ministry spokesman Asim Jihad said today.
Major players including Shell and Total have been positioning themselves for years to gain access.
"We are going to carefully study and check the documentation. Next month we will declare the companies which are permitted to work in the Iraqi oil fields," Jihad told Reuters.
Iraq produces about 2.3 million barrels of oil per day, a fraction of its 115 billion barrels of proven crude oil reserves, surpassed only by Saudi Arabia and Iran.
Some oil companies have already signed deals with the largely autonomous northern Kurdistan region, a move that has angered the government in Baghdad, which has threatened to blacklist them and declare the deals illegal.
Companies from Europe, Asia and America are among those who have registered to bid for Iraqi oil contracts, Jihad said.
Shell and Spanish energy company Repsol YPF are among those that have said they have registered.