Middle-east Arab News Opinion | Asharq Al-awsat

Iraq Completes Deal with Exxon Mobil, Shell - ASHARQ AL-AWSAT English Archive
Select Page

BAGHDAD (AFP) – Iraq’s oil ministry on Monday completed a major deal with US major Exxon Mobil and Anglo-Dutch giant Shell to develop production at West Qurna-1, the war-torn country’s second biggest field.

“The oil ministry signed the contract for West Qurna-1 with Exxon Mobil and Shell,” ministry spokesman Assem Jihad said in a statement.

“This contract will increase production from 285,000 barrels-per-day to 2,325,000 barrels-per-day.”

West Qurna-1 has reserves of around 8.5 billion barrels, according to oil ministry figures.

A deal with a consortium led by Russian energy giant Lukoil to develop the neighbouring West Qurna-2 field is expected to be signed on Saturday, Jihad added.

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.

More Posts

Follow Me:
FacebookGoogle PlusYouTube