Iraq will hold its second bidding round for oil licences in the country by mid-December, with contracts due to be signed as early as January 2010, according to Iraq's oil minister Hussain al-Shahristani.

Comments from the minister followed the announcement that 45 companies have been pre-approved for tenders on contracts covering more than a dozen fields in the country.

Speaking in Istanbul, Mr al-Shahristani told Bloomberg and other assembled media that the Iraqi government is pushing the oil ministry to move ahead as quickly as possible.

"We don't expect a new government to have a different policy to develop these fields," he added.

The tender will be the second held in the country since the collapse of Saddam Hussein's regime in 2003. The first round, concluded earlier this year, was less successful than had been hoped, with many contracts going unsold due to irresolvable disputes over expected earnings.

"We expect a better match between our expectations and what the companies will bid in the second round," insisted Mr al-Shahristani.

As well as technical expertise and competitiveness, bids are also likely to be evaluated on the auxiliary benefits the companies will bring to Iraq through investment in training and development, infrastructure and community initiatives.

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