Middle East Economic Survey

VOL. LIV

No 18

2-May-2011

Iraq Launches Exploration Round

Baghdad on 25 April formally launched its fourth upstream licensing round – this time an exploration round covering five oil-prone blocks and seven with gas potential. The previously scheduled November award has now been put back to January.

The Iraqi Ministry of Oil hopes the exploration rounds will eventually add 29 trillion cu ft to proven gas and 10bn barrels to proven oil reserves. The 12...