June 3, 2018 / 8:02 AM / 5 months ago

Iraq to sign development contracts for six blocs: oil ministry

BAGHDAD (Reuters) - Iraq will sign oil and gas exploration and development contracts for six blocks on Sunday and Monday, the oil ministry said in a statement on Saturday.

Three contracts are to be signed on Sunday with Iraqi-owned, United Arab Emirates-based Crescent Petroleum and on Monday two contracts will be signed with China’s Geo-Jade and one with United Energy Group, also based in China.

The oil ministry had held an auction last month to award contracts to international energy companies with 11 blocks on offer near the borders with Iran and Kuwait and in offshore Gulf waters. Five failed to attract any bids.

Reporting by Ahmed Aboulenein; editing by David Stamp

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