Article

2009-11-06 Iraq

Exxon-led group clinches Iraqs W.Qurna contract

[Al Arabiya Latest] An Exxon Mobil-led consortium has beaten rival Russian, French and Chinese groups to bag initial rights to develop Iraq's West Qurna field, the oil ministry said, adding momentum to Iraq's bid to unlock its oil riches.

With reserves of 8.7 billion barrels, West Qurna is among the prized Iraqi fields eyed by Western oil majors as they face flat or lower output at home and stiff competition from Chinese and Indian oil companies in bidding for oilfields elsewhere.

"The consortium led by Exxon Mobil, which includes Shell, won the contract to develop West Qurna Phase One oilfield," Oil Ministry spokesman Asim Jihad said on Thursday.

Posted by Fred 2009-11-06 00:00|| || Front Page|| [11132 views ] Top

#1 Dumb asses, don't you realise that after you "Develop" the oilfield, you'll be run out of the nation and your "Assets" seized?

Posted by Redneck Jim 2009-11-06 13:11|| 2009-11-06 13:11|| Front Page Top

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