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BP sees Final Deal on Iraq Oilfield by Year End - ASHARQ AL-AWSAT English Archive
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LONDON (Reuters) – BP expects to finalize a deal to develop Iraq’s largest producing oilfield by the end of the year, Chief Executive Tony Hayward said on Tuesday.

Abdul-Mahdy al-Ameedi, deputy director general of Iraq’s contracts and licensing directorate, had said last week that he hoped a deal with a BP-led consortium to develop the Rumaila field could be finalized at a meeting in August.

“That’s probably not realistic, not least because it’s Ramadan in August” Hayward told journalists in London, adding that he hoped to conclude details of the contract by year end and to begin work next year.

The consortium, which includes China’s CNPC, won the right to develop the field at an auction in Baghdad earlier this month.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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