Iraq’s oil ministry has signed final binding development contracts for awards made during the country’s Licensing Round 5+ (LR5+) and Licensing Round 6 (LR6) conducted earlier this year (MEES, 17 May). Finalization follows the signing of ‘preliminary contracts’ in August (MEES, 16 August), with the subsequent delay largely due to the one-month absence of oil minister Hayan Abdulghani from mid-September due to health-related issues (MEES, 11 October).
Iraq awarded 13 blocks during the combined rounds in May, but a 31 October press release by the ministry lists 14 contracts being signed. The round was dominated by Chinese firms, with state firms Sinopec and CNOOC and a raft of small independents securing assets. (CONTINUED - 197 WORDS)