Iraq is set to award oil contracts to dozens of foreign companies in a bid to boost production that could also give multinationals a foothold in the country’s large but underdeveloped oil fields.

The Iraqi oil ministry is expected to announce on Monday the deals with companies such as Shell, ExxonMobil, Chevron, Total and BHP Billiton, Asim Jihad, an oil ministry spokesman, said.

The ministry also plans to sign contracts with 41 other foreign companies for extracting oil, Jihad said.

[Source]