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Occidental, Pertamina mull Sonangol's Iraq deals

Baghdad, July 18, 2010

US oil major Occidental Petroleum Corp and Indonesian state oil firm Pertamina have shown an interest in taking a stake in Sonangol's two Iraqi oilfield development projects, a company official said Sunday.

"Our proposal will be for Sonangol to have a percentage of 45 per cent in Najmah and Qayara," Sonangol executive J. da Graca Luis told Reuters in Baghdad on the sidelines of a meeting between oil companies and the Oil Ministry.

"The rest will be for Occidental or Pertamina or whoever," Luis said. Sonangol currently has a 75 per cent stake in the oilfield projects, with the state oil company holding 25 per cent.-Reuters




Tags: Occidental Petroleum |

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