Exxon Mobil and Baghdad have reached agreement for the US-based company to be paid in oil for work on the huge West Qurna-1 oilfield, after months of negotiations over contract terms, an Iraqi oil official said.
The foreign oil companies i
Iraq and a group led by US oil major Exxon Mobil will sign a final deal for the development of the 8.7-billion barrel West Qurna Phase One oilfield on January 25, an Iraqi Oil Ministry official said.
The Exxon Mobil-led consortium won the
A group led by Russian energy firm Lukoil signed an initial agreement on Tuesday to develop Iraq's supergiant West Qurna Phase Two oilfield.
The oilfield in southern Iraq has estimated reserves of 12.9 billion barrels of oil. Lukoil owns 8
Iraq on Saturday offered up one of its choicest oilfields on day two of a contract auction, as the country emerges from the shadow of war and seeks to leap into the top ranks of oil producing nations.
The West Qurna Phase Two oilfield, wit
Iraq's government is expected to decide on deals with oil majors to develop the West Qurna and Zubair oilfields before the end of 2009, an Iraqi oil official said on Saturday.
Cabinet approval of a contract for an Eni-led group to deve