Petrel has eye on Iraqi oil fields

OIL exploration firm Petrel Resources plans to submit a tender to develop three oil fields in Iraq.

It announced yesterday it would submit plans to the Iraqi oil ministry for three fields one in Kirkuk in the north, and Hamrin and Subba/Luhais fields in the centre.

Managing director David Horgan said he would be travelling to Iraq in the next few days to submit the tenders. He said there were several competitors for each field, but he was confident that Petrel would be awarded one of the contracts.