Iraq seeks bids to assess its oil fields

LONDON, Aug. 5 (UPI) -- Iraq has invited companies to bid for the contract to assess its two largest oil fields, the New York Times has reported.

The Iraqi oil ministry "is undertaking the first comprehensive evaluation in decades of the two biggest oil fields now in production, at Rumalla in the south and Kirkuk in the north. And it has invited dozens of foreign energy companies to compete for the job of sizing them up," the paper said Wednesday.

"At least 16 companies, some of them giant oil producers and other independent engineering contractors, are preparing bids, according to executives at two of the companies," the New York Times said. "Bids are due on Aug. 15, they said and the contracts are expected to be awarded in October."