More than 70 international companies have sent their registration documents to the Iraqi oil ministry to compete for tenders to develop one of the world's largest oil fields, a spokesman for the ministry said Tuesday.
The ministry had asked international oil companies to register with the newly set up Contracts and Licensing Office of the Ministry at the beginning of January and set Monday Feb. 18 as the final day for receiving registration documentation. It said only registered firms can bid for tenders to develop Iraq's vast oil reserves, the third-largest in the world.
"We are checking and processing these documents," Assem Jihad told Dow Jones Newswires. "In a matter of one month - may be a little more or a little less - we will announce companies which will be eligible to work in Iraq."
Major oil companies such as BP PLC (BP), Royal Dutch Shell PLC (RDSB), Repsol YPF (REP), Total SA (TOT), ConocoPhillips (COP) and Italy's Edison SpA (EDN.MI) are among firms that have said they sent or were intending to send their registration documentation to the Iraqi oil ministry.
Iraq is currently tendering technical support agreements, or TSAs, that will help increase production in the country's largest oil fields by 500,000 barrels a day. Iraq is currently producing around 2.4 million barrels a day.