OREANDA-NEWS. July 18, 2012. The Iraqi oil ministry signed initially a contract with "Pakistan Petroleum" to develop & rehabilitate the exploratory area No. 8 which is located between the governorates of Diyala & Wasit (6000 Km2) with carbon and gas prospects during the 4th licensing round, and it is worthy to mention that the Pakistani company offered 5,38 USD for the single barrel.

The spokesman of the oil ministry Mr. Assim Jihad assured that the contracts, after their initial signature, will be certified by the council of ministers to be signed with their final form.

Mr. Jihad added that the oil ministry will sign a contract with the coalition of Kuwait energy & dragon Oil for the 9th area, as well as a contract for the 10th area with Lukoil & Inpex Japanese. And said that that the oil ministry aims to let all the governorates participate in the projects of the best investment and development projects for the oil & gas fortune to support the economic and human development. As well as he said that these contracts will elevate the Iraqi reserve and add new reserves.

And it is worthy to mention that the 4th licensing round involved 12 exploratory areas and 4 of them was awarded to the competing international oil companies which are the (8, 9, 10, 12).

Mr. Abdulwahed Adam, the Managing director of "Pakistan Petroleum", was glad to sign the initial form of the contract with the oil ministry which will authorize the company to explore the gas in the 8th area and invest the product for the benefit of Iraq in return of service wages suits the size of gas in the area.

It is worthy to mention that, the 4th licensing round involved 12 exploratory areas, the first is in Naynawa governorate while the second area occupies parts of Naynawa & Anbar governorates while the third,  fourth and fifth areas are in Anbar governorate. The seventh area occupies Qadisya governorate and a part from Muthanna governorate. The 8th area is in Diyala governorate. The 9th area is in Basra governorate nearby the Iraqi & Iranian border. The 10th area occupies parts of Qadisya & Muthanna governorates while the 11th & 12th areas occupy Najaf & Muthanna governorates.