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51

Iraq Welcomes European, US Firms to Develop Kirkuk

Iraq has invited 16 European and U.S. oil companies

Iraq has invited 16 European and U.S. oil companies to bid for 3-month term contracts to lift crude from its Kirkuk oil fields in the north via the Turkish Ceyhan terminal, a senior Iraqi oil official said Thursday.

Earlier, Oil Minister Hussein al-Shahristani said SOMO would allocate Tupras only limited quantities.

The past two months have seen more reliable supplies, allowing Iraq to sell some 20.1 million barrels of Kirkuk crude in competitive auctions.

SOMO would continue selling Kirkuk crude through tenders until term contracts are signed, the official said.