Iraq is expected to award the contract to develop the giant Nassiriyah oil field in southern Iraq to one of three competing international oil companies within weeks, Iraq's Oil Minister Hussein Al Shahristani said in press remarks published Monday.
"The (Nassiriyah oil field's) contract will be announced in weeks," Shahristani told pan-Arab daily Asharq Al-Awsat. He said the contract would worth billions of dollars, the paper reports.
Italy's Eni SpA (E), Japan's Nippon Oil Corp. (5001.TO) and Spain's Repsol YPF SA (REP) have submitted bids for the field, located in the Dhi Qar region.
Iraq invited in January the three companies to compete for the field, which has estimated crude oil reserves of around 4 billion barrels. Shahristani previously said the field could produce 100,000 barrels a day within 18 months from the start of development.