Iraqi oil and gas field bidding starts Monday.

Iraq's Oil Minister Hussain al-Shahristani will lead a delegation to London, where companies prequalified to bid on a handful of oil and gas fields will hear details of the terms on Monday.

Iraq is beginning a process to allow foreign investors to develop oil and gas fields. Details of the investment options -- including the exact fields, contract types and return on investment -- have been in the rumor mill but not confirmed by the ministry.

On Monday, Shahristani will give these details and specifics on the fields, so companies can decide which fields to bid on. The deadline for bidding is expected to be early next year. Later this year another group of fields is to be offered to bidders.