Iraq Is Soliciting Bids To Help Determine How Much Oil It Has

“Iraq has an immense amount of oil, but no one knows in detail just how much is there, not even the country’s oil ministry.”

“So the ministry is undertaking the first comprehensive evaluation in decades of the two biggest fields now in production, at Rumaila in the south and Kirkuk in the north. And it has invited dozens of foreign energy companies to compete for the job of sizing them up.”

“While foreign companies may be asked to help with continuing operations, the oil ministry will retain ownership of all production from the Rumaila and Kirkuk fields.”

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