Oil Field Services: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

Exxon, Shell Win Iraq's West Qurna Contract

Source: Reuters 11/5/2009, Location: Middle East

Share |

Iraq's oil ministry said that a group led by U.S. oil major Exxon Mobil beat three rival consortiums to win the contract to develop the giant West Qurna oilfield, one of several fields left unclaimed after a June auction.

The 20-year contract is one of a raft of agreements that Iraq is close to clinching, which could catapult the nation emerging from decades of strife and economic decline to the position of the world's third largest crude producer.

"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.

Jihad said the consortium will sign an initial deal at 1400 local time (1100 GMT) and that it still needed cabinet approval.

Exxon and Royal Dutch Shell competed against Russia's LUKOIL, France's Total and a consortium led by China's CNPC for Phase One of the West Qurna field, which has reserves of 8.7 billion barrels.

Oil Field Services News in Iraq >>

Middle East Oil Demand in April 2014
Saudi Arabia >>  4/16/2014 - In the Middle East, oil demand is anticipated to continue growing in 2014 at a stable rate, increasing by 0.31 mb/d above the 2013 total consumption l...
Iraq Approves $588.8m Oilfield Contract for Daewoo
Iraq >>  4/15/2014 - Iraq's cabinet approved an $588.8 million oilfield service contract with South Korea's Daewoo Engineering & Construction for the development of the Zu...

Kuwait to Award $4.3 bln Contract for Heavy Oil Project
Kuwait >>  4/15/2014 - Kuwait plans to award a 1.2 billion dinar ($4.3 billion) contract later this year for the first phase of a project to produce heavy oil at its norther...
Middle East Oil Supply in April 2014
Oman >>  4/14/2014 - The Middle East’s oil supply is estimated to decrease by 0.12 mb/d in 2013 from one year earlier to average 1.35 mb/d, remaining unchanged from the pr...

Samsung Engineering Signs $3.8b EPC Contract in Kuwait
Kuwait >>  4/13/2014 - Samsung Engineering Co., Ltd, the first and largest engineering company in Korea, entered Kuwait with the KNPC Clean Fuels Project (CFP) worth 3.8 bil...
Technip Awarded FEED Contract in Basra
Iraq >>  4/10/2014 - Technip, in partnership with China HuanQiu Contracting & Engineering Corporation (HQC), was awarded by Basra Gas Company (BGC*), a front-end engineeri...



Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Land & Leasing  Oil & Gas Companies  Production  Service Companies  Utility Systems  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |


More News

Oil & Gas Projects in Iraq >>

Oil & Gas Companies in Iraq >>

Related Links

Countries Quick Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us