By SPA
Baghdad : Iraq has extended to Feb. 18 its invitation to international oil companies to submit registration documentation to bid for participation in the development of some of Iraq’s prized oil fields, the Oil Ministry announced Tuesday.
Early this month, the ministry asked companies to submit by Jan. 31 all necessary registration documents to allow them to bid for the oil fields development.
Iraqi oil officials said recently they hoped to issue tenders to develop the country’s vast oil fields at the beginning of 2008. They said the Oil Ministry was preparing contract models for the first group of oil fields.
Iraq, the holder of the world’s third-largest crude oil reserves with an estimated 115 billion barrels, aims to boost crude production to 3 million barrels per day by the end of this year, according to a report of the Associated Press.