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Iraq |
Iraqi government in biggest ever sale of oil assets |
2008-10-13 |
![]() The sale is likely to spark debate over whether the overthrow of Saddam Hussein was part of a "war for oil" that has now delivered strategic Iraqi reserves into the hands of western multinationals. As security improves, Iraq is trying to bring in foreign companies to help increase crude output from the current 2.5 million barrels a day to 4.5 million barrels a day by the end of 2013. Iraqi Oil Ministry spokesman Assem Jihad said the purpose of the London meeting was to present the oil companies with the forms of the contracts and with data and details for fields being offered. "In light of these information, the companies will be in a better position to submit their bids which are planned to be approved by next summer," he said. The ministry will give the companies a six-month timetable from the receipt of data and other details to submit bids for a 20-year contract. |
Posted by:ryuge |