Iraq has postponed the auction of three major gas fields by one month to October, a source from an international energy company said Monday.

The decision was announced by Iraqi oil ministry officials during a meeting with interested companies in Istanbul on Sunday and Monday to discuss terms and conditions for the auction, the source, speaking on condition of anonymity, told AFP.

Iraq had originally invited companies to submit their bids for the fields of Akkaz, Mansuriyah and Siba in a September 1 auction, but had now pushed back the date of the bidding to October 1, the source added.

He did not elaborate on the contract terms which Iraq was offering in the auction, its third major attempt aimed at developing the war-torn country’s oil and gas sectors.

The planned gas field auction follows the signing of contracts last year with foreign firms to develop 10 oil fields across Iraq, aimed at raising crude output, currently 2.4 million barrels per day, to between 10 to 12 million bpd.

Iraq had said in May that about 45 companies approved to bid in last year’s auctions would be eligible to bid in the gas field tender.

The three gas fields on offer contain total estimated reserves of 11.2 trillion cubic feet (317 billion cubic meters).

The biggest field, Akkaz, which is 50 kilometers long and 18 kilometers wide, is west of Baghdad in Anbar province and contains 5.6 tcf.

The second field, Mansuriyah, is located in Diyala province northeast of Baghdad, and has reserves of 4.5 tcf.

The third field is Siba, located in the southern province of Basra near the borders of Iran and Kuwait. It has reserves of 1.1 tcf.

Iraq produces a negligible quantity of gas compared with the size of its reserves, and currently flares off most of what it produces as it lacks the capture technology needed to use the gas for electricity production