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Chinese-led group initials deal for Iraq oil field: ministry
Baghdad (AFP) Dec 22, 2009 A consortium led by China's top oil producer initialled a deal with Iraq on Tuesday to develop the southern Halfaya oil field, oil ministry spokesman Assem Jihad told AFP. "Yes, they signed the contract today," he said of the group made up of China National Petroleum Corp. (CNPC) and which also includes France's Total and Malaysia's Petronas. The three companies are aiming to increase production at Halfaya, which has proven reserves of 4.098 billion barrels of oil, to 535,000 barrels per day (bpd). They will receive fees of 1.40 dollars per barrel extracted. CNPC has a 50-percent stake in the project, while Petronas and Total each have 25 percent. Iraq auctioned Halfaya to the consortium on December 11, the first day of a two-day oil field auction which dramatically increased the country's projected crude production to 12 million bpd within seven years. Share This Article With Planet Earth
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Iran troops still on Iraqi soil: Iraqi politicianAmara, Iraq (AFP) Dec 21, 2009 Iranian troops remained inside Iraq territory on Monday despite pulling back from an oil well along the two countries' disputed frontier, a local politician told AFP. Oil ministry spokesman Assem Jihad, meanwhile, said the oil well had not yet been developed and that no Iraqis had worked to extract crude from it before Iran took it over last week. "The Iranians withdrew from the well and ... read more |
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