Iraq will invite selected oil companies in mid-June to bid for contracts to develop the southern portion of the East Baghdad oil field, a “super giant” reserve near the capital, a senior official said.

“We will invite companies that have previously conducted studies on the field in order not to start from scratch and not to waste time,” Deputy Oil Minister Ahmed al-Shamma told Reuters.

Shamma declined to identify the companies.

The Oil Ministry has estimated the East Baghdad field as a whole has the potential to produce 120,000 bpd of crude.

The field is included in a second bidding round for long-term service contracts that Iraq has opened up to foreign companies.

(Upstream Online)