Energy firms win contracts from Iraq’s Crescent Petroleum

Iraq has awarded Iraqi-owned United Arab Emirates-based Crescent Petroleum three exploration blocks in an oil and gas exploration and development contract auction on Thursday.

China’s Geo-Jade won two.

United Energy Group, also based in China, won one contract and a total of five blocks received no bids.

Iraq is offering 11 new blocks for exploration in border areas with Iran and Kuwait and in offshore Gulf waters.