Official: Iraq pulls small Basra gas field from bidding, will develop on its own

Iraq pulls Basra gas field from bidding round

BAGHDAD — Iraq has removed a small gas field in Basra from a list of 11 oil and gas fields being offered for development in its second round of postwar bidding.

A top Iraqi official overseeing oil and gas licenses said Sunday that Iraq’s state-run South Oil Co. will instead develop the Siba field in Basra rather than put it up for bidding.

Abdul-Mahdi al-Ameedi says Iraq has the ability to develop the small field.

Nine international oil companies have qualified to take part in the second round of bidding slated to begin later this year.

Iraq’s first round of bidding wrapped up last month with only one deal made to develop a single oil field.