Iraq in major oil field auction
Iraqi oil contract auction in June
Only one contract was awarded after the first auction
The world's biggest oil companies are gathering in Baghdad to bid for the rights to develop Iraq's oil fields.
A total of 44 companies will bid for 10 fields in the second live auction to take place this year.
Eight contracts to run oil and gas fields were up for tender in June, although only one was agreed - with BP and China's CNPC.
The auction comes three days after a series of car bombings killed more than 100 people in Baghdad.
Disputed terms
The auction is key to Iraq's goal of reviving its oil industry, which has been battered by years of war and sanctions.
The country has a daily output of about 2.4 million barrels, but aims to triple that over the next few years.
However, the first auction led to a dispute between many of the bidding companies and the Iraqi government over the terms of the contracts.
Many could not agree on how much the oil ministry should pay above the minimum production level.
Only BP and CNPC agreed a contract - to run the Rumaila oil field - Iraq's first big oil tender since the invasion of 2003.
Exxon Mobil had earlier declined to accept the ministry's maximum payment on Rumaila, but BP and CNPC, which had originally asked for $4 a barrel, agreed to do the work for $2 a barrel.
Since then, a consortium led by the Italian firm ENI, and Shell and Exxon Mobil have also signed deals.
Iraqi oil contract auction in June
Only one contract was awarded after the first auction
The world's biggest oil companies are gathering in Baghdad to bid for the rights to develop Iraq's oil fields.
A total of 44 companies will bid for 10 fields in the second live auction to take place this year.
Eight contracts to run oil and gas fields were up for tender in June, although only one was agreed - with BP and China's CNPC.
The auction comes three days after a series of car bombings killed more than 100 people in Baghdad.
Disputed terms
The auction is key to Iraq's goal of reviving its oil industry, which has been battered by years of war and sanctions.
The country has a daily output of about 2.4 million barrels, but aims to triple that over the next few years.
However, the first auction led to a dispute between many of the bidding companies and the Iraqi government over the terms of the contracts.
Many could not agree on how much the oil ministry should pay above the minimum production level.
Only BP and CNPC agreed a contract - to run the Rumaila oil field - Iraq's first big oil tender since the invasion of 2003.
Exxon Mobil had earlier declined to accept the ministry's maximum payment on Rumaila, but BP and CNPC, which had originally asked for $4 a barrel, agreed to do the work for $2 a barrel.
Since then, a consortium led by the Italian firm ENI, and Shell and Exxon Mobil have also signed deals.