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Iraq to offer 12 southern oil fields for development

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Report summary

On 23 October 2016, Iraq's Petroleum Contracts and Licencing Directorate (PCLD) announced that 12 small/medium oil fields will be offered to pre-qualified IOCs for development. In the first offering since the 2012 exploration licencing round, the contracts will be agreed via direct negotiation and not a formal bid round. No contract terms have been set, with interested companies requested to submit proposed commercial/contractual terms to the PCLD. Pre-qualification closes on 30 November 2016.   

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  • Iraq to offer 12 southern oil fields for development

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