Iraq's Kurdistan seeks foreign bids for 40 oil blocks
BAGHDAD — The autonomous Iraqi Kurdish government intends to develop
crude oil reserves throughout the north.
Kurdistan's Oil Ministry has sought foreign bidders for 40 new oil
blocks and was drafting a tender for the projects. The tender was expected
to follow an Iraqi law that stipulates the division of oil revenues.
"Priority will go to those companies that can move and organize
themselves quickly," Oil Minister Ashti Hawrami said. "This way we shall
be making a great contribution to Iraq's revenues to be shared by all, hence
assisting with the reconciliation process and Iraq's unity."
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The ministry plans to convene meetings with investors in Irbil, London
and possibly the U.S. city of Houston. Kurdish
officials insist that they would decide the winner and administer the
project.