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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
102 people
Zakir Batyrjanow's profile photo
Atajan Tashov's profile photo
Azim İlyasov's profile photo
Merjen Meredowa's profile photo
Тазегул Аннабердиева's profile photo
Fabiano Lemos's profile photo
Shakeel Sheikh's profile photo
ERA SPOR MALZEMELERİ SPOR EKİPMANLARI's profile photo
Marks Jorayew'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.