LONDON, Feb. 5 (UPI) -- Negotiations between international oil companies and Iraq Oil Ministry officials appear to be progressing, despite protests at a conference in London.

Iraq is in direct talks with the world's largest oil companies and is prepping for a first round of bids to develop its oil fields.

Iraq's reserves, the third largest in the world, are producing about 2.3 million barrels per day, and Iraq Oil Minister Hussain al-Shahristani said the direct talks will help boost that to 2.8 million bpd by the end of the year.

The Middle East Economic Survey confirms widespread reports that top officials at Shell, BP, ExxonMobil and Chevron met last week in Amman with a delegation from Baghdad, led by Natiq al-Bayati, the Oil Ministry's director general of the Petroleum Contracts & Licensing Directorate.

Shahristani said contracts will be signed "within a few weeks," MEES reports. The technical service agreements will dedicate expertise, training and equipment to a handful of Iraq's oldest and largest fields.