Shell-led group wins Iraq Majnoon oilfield deal
Baghdad, December 11, 2009
Royal Dutch Shell and partner Petronas of Malaysia won a deal to develop Iraq's super-giant Majnoon oilfield on Friday, said Oil Minister Hussain al-Shahristani, in the country's second bidding round since the 2003 US invasion.
The companies proposed a per-barrel fee of $1.39 and a plateau production target of 1.8 million barrels per day, (bpd) compared to a current level of 46,000 bpd.
France's Total had also bid for the Majnoon field, which has estimated reserves of 12.6 billion barrels of oil.-Reuters