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Thursday, April 30, 2009

Iraq invites foreign partners to help develop southern oil fields

BAGHDAD Ñ Iraq has launched a tender for the drilling of 60 wells in the south.   

The Iraqi Oil Ministry has been inviting Western and other foreign companies to bid for a project to drill 60 oil wells. The wells were meant to be drilled in five fields in southern Iraq.

The state-operated Maysan Oil Co. has been administering the tender, Middle East Newsline reported. Maysan, located 320 kilometers south of Baghdad, said the bids must be submitted by May 15.

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Officials said some of the wells must be completed within a year. They said the project was designed to increase Iraqi oil production by 500,000 barrels per day by 2011.

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