Iraq Oilfield Auctions to Go Ahead

7 December 2009 (Last Updated December 7th, 2009 18:30)

The Iraqi Oil Ministry said it will not delay the auction this week of ten oilfield contracts after three bombs went off in the country. The bombs killed at least 62 people and wounded 105 on Tuesday, reports Reuters. "We are moving forward with the auction on Friday and Satu

The Iraqi Oil Ministry said it will not delay the auction this week of ten oilfield contracts after three bombs went off in the country.

The bombs killed at least 62 people and wounded 105 on Tuesday, reports Reuters.

"We are moving forward with the auction on Friday and Saturday as scheduled," an official at the ministry's petroleum licensing office told Reuters.

Executives from international oil companies are due in Baghdad this week to attend the auction, where the government is offering 20-year service contracts for ten untapped oilfields.