On April 13, the Iraqi Ministry of Petroleum announced that 35 international oil companies have been approved to take part in future bidding processes for oil and gas exploration contracts in Iraq. This list includes major players such as China National Petroleum Corporation (CNPC), also known as PetroChina.
The announcement revealed that these 35 companies were selected from an initial pool of 120 applicants. Alongside CNPC, the approved firms include well-known global energy giants like Chevron, Shell, ExxonMobil, BP, Russia's Lukoil, and Italy's Eni. These companies are expected to play a key role in helping Iraq boost its oil production and develop its vast energy resources.
However, the ministry emphasized that this approval does not close the door on other companies. The Iraqi government remains open to welcoming more qualified international firms in the future. According to the statement, increasing the number of participating companies is seen as beneficial for the country’s long-term energy strategy.
Iraq holds the world's third-largest oil reserves, and the government aims to significantly increase domestic oil output. Specifically, officials hope to raise daily production by 500,000 barrels, with a target of reaching 2.77 million barrels per day in the coming years. This ambitious goal highlights the critical role that international partnerships will play in unlocking Iraq's full energy potential.
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