RoydadNaft –  Iraqi Oil Minister Hayan Abdul Ghani revealed that Iraq will offer ten gas exploration blocks to US companies during his upcoming visit to the United States. According to the Iraqi news agency “Ina”, a new tender will be held for the ten blocks, as part of the country’s efforts to increase gas production.

The Iraqi government made this move in an effort to attract US investment in the energy sector, as Chinese companies have won most of the available licenses in the previous licensing rounds. The ten gas exploration blocks were not claimed in the previous six licensing rounds. Additionally, Abdul Ghani said that Iraq will launch a new gas project in the Al Faihaa field, near Basra in southern Iraq, by the end of 2024.

With a capacity of 125 million standard cubic feet, the Al Faihaa oil field project is a vital part of Iraq’s plan to improve its energy sector. Iraq is seeking to increase gas production to fuel power plants, in order to reduce the amount of gas imported from Iran.