Iraq called on Monday foreign firms to bid for contracts to explore reserves of gas and oil in nine new areas, as the OPEC member seeks to boost its outcome capacity. “We invite all international companies to participate,” Oil Minister Jabar al-Luaibi told a news conference in Baghdad. “This new round aims to maximize reserves,” he added. Five blocks are located at border areas with Iran, three with Kuwait and one is offshore in Gulf waters, a presentation by oil ministry officials at the conference showed.
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