Iraq Says Oil Field Tenders to Be Announced Soon

Jan 2, 2008 (Dow Jones Newswires)

Iraq has invited international oil companies to submit registration documentation in order to take part in an open race to develop some of the country's prized oil fields, the Iraqi Oil Ministry said Wednesday.

"The Oil Ministry has invited all international petroleum companies willing to work in Iraq to register by submitting required documentation," the ministry said in a statement a copy of which obtained by Dow Jones Newswires.

Ministry spokesman Assem Jihad said only registered and qualified companies would be allowed to bid for oil field development projects.

"Registration of companies in the Republic of Iraq is a necessary step to enable them takes part in any round of production licenses that the ministry is intending to issue," he said. "Iraq is intending to issue the first round of tenders shortly."

Iraqi oil officials said recently they hoped to call the first open tenders to develop the country's vast oil fields at the beginning of 2008. They said the oil ministry was preparing contracts models for the first group of oil fields.

Jihad said the required documentation should be submitted to the Petroleum Licenses and Contracts Office, an affiliate of the oil ministry, no more than the end of the working hours Jan. 31.

Jan 2, 2008 (Dow Jones Newswires)