Iraq plans to award oil and gas exploration and development contracts in 11 new blocks on April 15, oil ministry spokesman Asim Jihad said on Sunday.
Bidding documents will be made available to oil companies planning to make offers on April 13, Jihad told Reuters. The offers will have to be submitted on April 15 and the winners will be announced the same day, he added.
The oil ministry announced on Thursday measures to reduce the fees received by the oil companies from the government in the new contracts.
The new contracts will exclude oil by-products from the companies' revenues, establish a linkage between prevailing oil prices and their remuneration, and introduce a royalty element.
Oil producers in Iraq currently receive a fee from the government linked to production increases, which include crude and oil by-products such as liquefied petroleum gas and dry gas.