Iraq Set to Sign Oil Field Agreements

Iraq looks set to sign technical support agreements with four major oil companies to develop five oil fields by the end of March, according to Iraq's Deputy Oil Minister Ahmad al-Shammaa .

The deals could potentially increase Iraq's crude output by around 500,000 barrels a day.

"The second round of talks is being held in Amman with four majors," the minister told Bloomberg reporters.

"The third round would be to sign these contracts," he added.

The new agreements will help increase production in five producing oil fields which could include Rumeila and Missan in the south, Kirkuk in the north and East Baghdad.

Iraq has extended its invitation to 18 February for international oil companies to submit registration documentation to bid for participation in the development of some of Iraq's oil fields, the Oil Ministry announced earlier this week.

By staff writer