MEOG: Chinese firms dominate Iraqi bidding

Chinese companies have emerged as the dominant winners in Iraq’s recent oil and gas licensing rounds, securing a majority of the bids during Licensing Rounds 5+ and 6.

The bidding process, aimed at ramping up oil and gas output for domestic consumption, saw significant participation from international and local entities.

Out of more than 20 pre-qualified companies, Chinese firms emerged as the most successful, securing a total of 10 licences. This achievement underscores China’s growing influence in Iraq’s energy sector, especially in oil exploration and development projects.

Notably, no US oil majors participated in the bidding rounds, despite recent diplomatic engagements between Iraqi Prime Minister Mohammed Shia Al-Sudani and representatives of US companies in Washington. This absence highlights the shifting dynamics of global oil investments in the Middle East.

One of the key wins was by the local arm of China’s National Offshore Oil Corp. (CNOOC), which secured a bid to develop Block 7 in Iraq. This oil exploration project spans across central and southern provinces, including Diwaniya, Babil, Najaf, Wasit and Muthanna.