A consortium led by Italy's Edison SpA (EDN.MI) has bid for the Akkas gas field in the first round of auctions for eight oil and gas fields in Iraq, Iraqi Oil Minister Hussain al-Shahristani said Tuesday.
The consortium - which includes Malaysia's Petroliam Nasional Bhd, or Petronas, China National Petroleum Corp., Turkey's TPAO and Korea Gas Corp. (036460.SE) - is seeking $38 for each extra barrel of oil equivalent produced and intends to produce 425 million cubic feet of gas a day.
The Oil Ministry is offering $8.50 for each barrel of oil equivalent.