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The two-day auction, in which it was hoped international investors would be attracted, closed last week with only three contracts awarded for 12 exploration blocks on offer.

It was the poorest performance from any of the Iraq energy auctions since 2009.

Many of the approved bidders, including Shell, BP and Chevron decided not to bid, saying they couldn't accept Baghdad's terms.
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Have them in circles
105 people
THE CREATES LIMITED PARTICPATORY DEMOCRACY GROUP (PDG)'s profile photo
A TIF's profile photo
Arzuw Turkmenistan's profile photo
Jumakuly Mahmudov's profile photo
Mekan Amanow's profile photo
Arslan Ibragimow's profile photo
Perhat Muhammedov's profile photo
YASHA SH's profile photo
Mustafa Tekin's profile photo
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Turkmenistan News.Net is a trusted source for news of Turkmenistan and Central Asia.
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Turkmenistan News.Net, established in 1999, presents national Turkmenistan news together with breaking stories out of the capital Asgabat, and other major cities Turkmenabat, Dasoguz, Balkanabat, Buzmeyin, Kerki, Annau, Gumdag, Baherden, Boldumsaz, Gazanjyk, Gazojak, Kaka, Sayat, and Seydi.