Iraq will sign development contracts on June 2 and 3 for six blocks awarded during the last licensing round, the Oil Ministry said in a statement, Reuters reported.
Three contracts will be signed with Crescent Petroleum. The Iraqi-owned, UAE-based company was the sole bidder for the Khashim Ahmer-Injana exploration block, which lies close to the Iranian border.
Two contracts will be signed with Chinese Geo-Jade, who secured a 14.67% stake in Naft Khana, and 7.15% in the Huwaiza block. The final contract will be signed with China’s United Energy Group, who won a 4.55% stake in the Sinbad block.