Iraq to award foreign oil contracts late June

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Iraq will at the end of June announce which major foreign oil companies have been awarded new contracts to work in the country, a government spokesman said on Sunday.

The deals will be service agreements in which successful bidders are paid a fee by Baghdad and not production sharing contracts where profits are shared.

"The Ministry of Oil will announce the names of companies who won business contracts in Iraq's oil industry on the 29th or 30th of this month," Assim Jihad, the ministry's spokesman, told AFP.