Iraq To Upgrade Giant Oil Fields

Iraqi oil ministry has shortlisted 5 companies to perform reservoir studies on the giant Kirkuk and Rumaila oil fields, and plans to award the two contracts by year-end.

The letters for the Kirkuk reservoir study were sent on Nov. 20 and companies were given until Nov. 30 to submit their new proposals.

Another five companies were shortlisted for the North and South Rumaila fields study and letters are expected to go out today, the ministry said.