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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




Tags: Shell | Bid | Majnoon Oilfield |

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