Iraq's plans to boost oil and gas reserves have been knocked back after its first exploration bidding round ended with only three out of 12 blocks being awarded. The scant interest shown in three-quarters of the acreage on offer means that Iraq is unlikely to realise its goal of boosting its 143bn bl oil reserves by around 30bn bl and its gas reserves by 30 trillion ft3 as a result of the exploration bidding round. More than half of the blocks on offer were for gas prospects, with Iraq seeking to boost its non-associated gas output (WPA, 31 October, p6).
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