Iraq’s oil ministry said it is postponing the deadline for bids to develop the prized Akkas natural gas field in the western part of the country until May 18. The new deadline comes after the ministry said it was unable to lure enough offers by a previous deadline two weeks ago because of a lack of security.
The Akkas field, located in the former Sunni insurgent stronghold of Anbar province, has estimated reserves of more than 2.15 trillion cubic feet. The ministry earlier this year said it was in talks with Royal Dutch Shell PLC, which already has five wells at the site.
The ministry also postponed until May 18 a separate request for proposals to help build two oil pipelines to link the Basra oil fields in southern Iraq with Iran’s Abadan refinery.