Contracts will be considered on both BOT (Build–Operate–Transfer) and BOO (Build–Own–Operate) bases.
The Minister made the announcement during a visit to the Iraqi Drilling Company (IDC), and said the Ministry will announce other projects in the near future.
According to a report from Platts, the ministry also plans to double Iraq’s crude oil storage capacity to 24 million barrels over the next few years through international investment.