Dubai's Dragon Oil is part of a consortium that has won the rights to explore for oil and gas in Iraq, the only block to be awarded at an auction yesterday in Baghdad.
In its first offer of exploration rights since the war, Iraq offered up six blocks to 47 companies - but received only two bids, including one it rejected.
The reluctance of foreign oil companies to sign up to Baghdad's tough contract terms could hamper Iraq's attempts to rebuild its postwar economy and become a powerful Opec producer.
No comments:
Post a Comment