Iraq to offer ten blocks for gas exploration to American companies

(Patria) - Iraq plans to offer ten blocks for gas exploration to American companies during the upcoming visit of Oil Minister Hayan Abdel-Ghani to the United States.

This move is part of Baghdad's efforts to attract American investments in its energy sector, following previous licensing rounds in which Chinese firms secured most of the available fields.

Ten gas blocks, which remained unclaimed after six licensing rounds, will be presented in a new bidding process, Iraqi state media announced, as Iraq seeks to increase its domestic gas production, Reuters reported.

Abdel-Ghani said that Iraq will launch a new gas investment project by the end of the year at the Al-Faihaa oil field in southern Iraq. The project, with a capacity of 125 million standard cubic feet, is a key component of Iraq's strategy to improve its energy infrastructure.

The latest initiative follows recent agreements on the development of thirteen oil and gas blocks, aimed at increasing Iraq's crude oil and gas production to supply power plants, which currently rely heavily on Iranian gas imports.