BAGHDAD, Dec. 31 (Chinese media) -- The Iraqi Oil Ministry announced on Wednesday that 11 oil and gas fields are open to bidding by foreign firms in the second round of licensing for long-term development contracts.
"Today I announce the second bidding round for long-term development of some Iraqi oil and gas fields," Oil Minister Hussein al-Shahristani told a news conference in his ministry's building in Baghdad.
Shahristani named the oil and gas fields as Majnoon, West Qurna Phase II, Halfaya, East Baghdad, Gharraf, Kifil, Kifil West, Merjan, Najmah, Qayara, and the Siba gas field in Basra province.
The Iraqi minister said that within 3 to 4 years from the contracts being completed by the end of 2009, Iraq's oil production could increase by 2-2.5 million barrels per day, which almost equivalent the country's production now.
The Wednesday announcement came six months after the first round of licensing bidding was opened, in which Iraq offered six oil and two gas fields for development.
The contracts from the first round are expected to be signed in the middle of 2009 and those for the second round to be signed by the end of the year.
In April, the Iraqi Oil Ministry said that only 35 companies and consortia out of 120 applicants were qualified to criteria put by the ministry to bid on its contracts.
Iraq oil reserve is reportedly to be the world's third-largest, which needs billions of U.S. dollars investment to overhaul its oil industry infrastructure and increase oil and gas output after 13 years of sanctions and war.
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