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Iraq has announced its plans to invite foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks. The country aims to produce more natural gas for its power stations and reduce its reliance on imports from Iran, which have been a burden on its budget and a strain on Baghdad’s relationship with Washington. Eight blocks are located in Anbar province, one in Mosul, and two along province borders. The bidding round is the sixth of its kind, although the specific date for the bidding process has not been set yet. Iraq, the second-largest producer in OPEC, currently flares much of its own gas due to a lack of processing facilities.

Iraq invites foreign bids for 11 gas blocks in new areas

Iraq has announced its plans to invite foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks. The country aims to produce more natural gas for its power stations and reduce its reliance on imports from Iran, which have been a burden on its budget and a strain on Baghdad’s relationship with Washington. Eight blocks are located in Anbar province, one in Mosul, and two along province borders. The bidding round is the sixth of its kind, although the specific date for the bidding process has not been set yet. Iraq, the second-largest producer in OPEC, currently flares much of its own gas due to a lack of processing facilities.

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