Jitin Prasada, the minister of State for Petroleum and Natural Gas informed the Lok Sabha on November 26, 2009 that “OVL is looking into the possibility of bidding for oil and gas fields in Iraq. Preliminary discussions are being held with qualified oil companies for joint bidding in Iraq. OIL is also exploring the possibility of participation in exploration and production in Iraq.”
Last year, Iraq had shortlisted 35 companies in the first licensing round for oil and gas fields in that country. OVL was qualified for the first round but however, it did not get any blocks in that round. The company is now planning to bid for the second licence round which is to take place in December 2009.
OIL, together with other international companies, has qualified to bid for the second round.
