Iraq May Invite Foreign Cos to Develop Rattawi, Tuba Oil Fields

Iraq may extend an invitation to foreign oil companies to commence field operations at the Rattawi and Tuba oil fields, both of which are discovered but undeveloped, reports Dow Jones Newswires.

According to a senior Iraqi official, the country is involved in discussions with foreign firms to develop the two fields, which the Iraq Ministry of Oil wants developed under Engineering, Procurement and Construction contracts.

"Tuba and Rattawi may come next in the ministry's list of oil fields that need to be developed," the official told Dow Jones.

Located in the Basra governorate of Southern Iraq, the Rattawi oil field has an estimated potential to produce up to 250,000 barrels a day and Tuba, up to 100,000 barrels a day.