The Iraqi oil ministry confirmed a Reuters report that the Swiss-based commodity trading giants, both with big upstream expansion plans, are among six new companies pre-qualified bidders for 12 exploration blocs which expected to add 10 billion barrels to Iraqi reserves.

The world’s biggest oil explorers have been queuing up to tap Iraq’s vast and largely underdeveloped oil fields, with its huge reserves offsetting fears over security and infrastructure challenges in a country crippled by years of war. 

Although few expect Iraq to meet its target of increasing its production capacity from under 3 million barrels per day (bpd) in 2011 to a Saudi-Arabia-rivaling 12 million bpd in 2017, there are now 46 companies vying for the licenses to try.

Glencore has equity stakes in oil and gas production sharing contracts offshore Equatorial Guinea, West Africa with the first expected to start producing early next year and peak at 50,000 bpd, according to the company website.

Glencore declined to comment on its inclusion on the Iraq bidding list, while Vitol was unavailable for comment.

Unlisted Vitol has exploration and production assets in the Former Soviet Union, Southeast Asia and West Africa but its net production is only just over 8,000 bpd, according to its website.

Earlier this week Iraq’s Oil Ministry excluded Hess Corp. from competing in its fourth energylicensing round because the US oil firm signed deals with Iraq’s northern Kurdish region - agreements Baghdad deems illegal.

The Iraqi government has also now accepted Dubai-based Dragon Oil, Britain’s Gulfsands Petroleum, China’s Zhenhua Oil, and Romania’s Romgaz as potential bidders for the next oil round.  

Shares in Glencore, which have fallen since it listed in London in May, rose more than 6.5 percent on Thursday morning after energy investment First Reserve said late on Wednesday it would buy more Glencore stock.