The June auction by Iraq left several fields without bids; only the Rumaila field was taken by British Petroleum + China National Petroleum Co.
The terms set by Iraq on the service contracts were deemed too high.

Now the oil companies are accepting Iraq's conditions.
Royal Dutch Shall and Exxon-Mobil have agreed to accept $1.90/bbl for each barrel produced above the current level (West Qurna), about half what the oil companies wanted.

Eni (Italian), Occidental and Korea Gas have agreed to similar terms for the Zubayr field.

The combined reserves for these fields is estimated at some 30 billion barrels.

It is expected that Iraqi output will be boosted to 7 million bbls/day, rivaling the Saudi output.

Iraq is considering opening an auction for other fields.

New York Times, Nov. 30, 2009; "Oil Companies Look to the Future in Iraq," Timothy Williams.