OREANDA-NEWS. July 19, 2012.  The Iraqi oil ministry signed a contract with Lukoil Russian (60% share) & Inpex Japanese to rehabilitate and develop the 10th exploratory area (5500 km2) which is located in Muthanna & Thiqar governorates with carbonic prospects (oil) during the 4th  licensing round. And it is worthy to mention that the coalition of the 3 companies offered 5, 99 USD for the single barrel.

The spokesman of the oil ministry Mr. Assim jihad assured that the contracts, after their initial signature, will be certified by the council of ministers to be signed with their final form. And said that that the oil ministry aims to let all the governorates participate in the projects of the best investment and development projects for the oil & gas fortune to support the economic and human development. As well as he said that these contracts will elevate the Iraqi reserve and add new reserves.

Mr. Jihad said also that, another contract will be signed initially to rehabilitate the 12th  exploratory area (8000 km2) with carbonic prospects (oil) which is located between Najaf & Muthanna governorates. And that area was awarded to the coalition of Premier British & Pashneft Russian whom offered 5 USD for the single barrel.

And it is worthy to mention that the 4th  licensing round involved 12  exploratory areas and 4 of them was awarded to the competing international oil companies which are the (8, 9, 10, 12).

Mr. Kati Al-Jabbori the representative of Lukoil company was glad for the signature of the initial contract with the oil ministry. Assuring that this contract will open new doors of cooperation with Iraq in the different aspects especially the aspects that has mutual interest.

The 4th  licensing round involved 12 exploratory areas, the first is in Naynawa governorate while the second area occupies parts of Naynawa & Anbar governorates while the third, fourth and fifth areas are in Anbar governorate. The seventh area occupies Qadisya governorate and a part from Muthanna governorate. The 8th area is in Diyala governorate. The 9th area is in Basra governorate nearby the Iraqi & Iranian border. The 10th area occupies parts of Qadisya & Muthanna governorates while the 11th  & 12th  areas occupy Najaf & Muthanna governorates.