Gulf Oil and Gas accountACCOUNT

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 >>

Kuwait >>  11/15/2017 - With a double-digit million euro volume, MAN Diesel & Turbo has won an order for nine compressor trains for the state-owned Kuwait Oil Company (KOC). ...
Saudi Arabia >>  11/14/2017 - Last week, the WTI benchmark rose $2 to more than US$57 per barrel — its highest level since mid-2015. While OPEC and other contributing non-OPEC memb...

Oman >>  11/9/2017 - Tethys Oil will be awarded a new exploration license by the Ministry of Oil and Gas of the Sultanate of Oman. Block 49 is an onshore block that covers...
Saudi Arabia >>  11/9/2017 - Saudi Aramco signed agreements with several oil and gas service contractors for oil and gas megaprojects designed to enhance the company’s energy sust...

United Arab Emirates >>  11/2/2017 - ABB AbilityTM Electrical Distribution Control System delivers key data to shape next-generation solar power for the city. ...
United Arab Emirates >>  11/1/2017 - McDermott International, Inc. Announced a letter of award for a significant* contract for the engineering, procurement, construction and installation ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  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 | 15 | 16 | 17 | 18 | 19 | 20 |

Oil & Gas Projects in Iraq >>

More News

 

Oil & Gas Companies in Iraq >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.