Iraq has once again delayed an auction for a dozen oil and gas exploration blocks until the end of May, according to a top official.
The bidding round had initially been scheduled for January, but the oil ministry delayed the auction to early March, then to April.
Changes in terms
"It will be held from May 30-31, due to changes in the terms of the contracts," Abdel Mehdi al-Amidi, the director general of the oil ministry's petroleum contracting and licensing directorate was quoted by AFP as saying.
Al-Amidi did not specify the nature of the changes but added that, "The companies have to study the contracts before deciding."
Fourth auction
Iraq first announced the sale, the fourth such auction to foreign majors since 2009 in April 2011. A total of 12 exploration blocks are on offer - seven gas and five oil.
The blocks are located in the provinces of Basra, Najaf, Babil, Muthanna, Diwaniyah and Dhi Qar, south of Baghdad, Nineveh and Diyala to the north and Anbar to the west.
