Oil: Licensing rounds will pave the way for raising oil and gas production

Baghdad - INA

The Parliamentary Oil, Gas and Natural Resources Committee announced today, Saturday, support for the fifth and sixth complementary licensing rounds and the investment of associated and free gas, considering these rounds as a necessity to raise production, including oil.

The head of the committee, Haibat Al-Halbousi, told the Iraqi News Agency (INA): “Today we witnessed the ceremony of announcing the fifth and sixth supplementary round in the Ministry of Oil in the presence of Prime Minister Muhammad Shiaa Al-Sudani and Minister of Oil Hayan Abdul-Ghani.”.

He added, "The fifth and sixth complementary licensing rounds are very important for Iraq and are part of the government program launched by the Prime Minister, and voted on in the House of Representatives.".

He pointed out, "The sixth round includes gas rounds to invest in free gas, while the fifth comes to complete the oil and gas rounds," noting, "The committee supports the Ministry of Oil with licensing rounds and investment of associated and free gas, which will raise production levels.".

The Prime Minister, Muhammad Shiaa Al-Sudani, sponsored today the launch ceremony of the fifth complementary and sixth licensing rounds, which include 29 projects for oil and gas exploratory fields and blocks, distributed among 12 Iraqi governorates.