The Iraqi Oil Ministry has postponed the dates for submitting bids for the development of three gas fields with an estimated production capacity of up to 317 billion cubic meters. The bidds were due for early September, but now it was delayed to October. This news came as the value of Iraqi oil exports last month amounted to about 1.85 million barrels per day of crude oil with an average price of US$70 per barrel.
Iraq's oil ministry spokesman Asim Jihad said "tenders for the gas fields have been postponed to early October. He did not give the exact time of submission. He added that the postponement "aims at giving companies more time to study the bids." Iraq said that up to 50% of the production of the three natural gas fields will be available for export.