Kentucky Local News, Weather, Sports | Lexington, KY | WKYT

Iraq Announces 2nd Oil Licensing Round

BAGHDAD (AP) - Iraq's oil minister has announced that 11 oil and
gas fields are open to bidding from developers in the second
postwar round of licensing.
They include the huge Majnoon and West Qurna fields, which are
only partially developed and producing far less than their
estimated potential individual output of 600,000 barrels a day.
The announcement Wednesday by Oil Minister Hussain
al-Shahristani comes six months after the first round of licensing
bidding was opened.
Contracts from that round are expected to be signed in the
middle of next year and those for the second round by the end of
the year.
Iraq holds the world's third largest proven reserves of crude,
with more than 115 billion barrels of oil.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 36926209 - wkyt.com/a?a=36926209
Gray Television, Inc.