Iraq Offers 10 Gas Blocks to US Firms

Iraq is set to offer ten gas exploration blocks to U.S. companies during Oil Minister Hayan Abdel-Ghani's upcoming visit to the United States, marking a strategic effort to attract U.S. investments into its energy sector. This initiative comes after previous licensing rounds saw Chinese firms dominate, leaving these blocks unclaimed from six prior rounds. The new bidding process aims to enhance Iraq's domestic gas production and reduce its reliance on Iranian gas imports for electricity generation. Additionally, a new gas investment project at the Al-Faihaa oil field, expected to have a capacity of 125 million standard cubic feet, is planned to launch by the end of the year. This initiative aligns with Iraq's broader strategy to boost its energy infrastructure and increase overall gas output. Recent agreements to develop 13 oil and gas blocks further support these objectives.