Final auction fields get draft contract approved

Angola state oil company gets the initial deal for two Ninevah fields approved and sent to Cabinet, the final projects from the December auction.

Sonangol has agreed to the draft contracts to develop the Qaiyarah and Najmah fields, two of the smallest offered in the December 11 and 12 auction, receiving the highest remuneration fee from the ministry.Officials from the Iraqi Oil Ministry and Sonangol initialed the contract Wednesday at the ministry headquarters.Sonangol is the sole foreign investor in the projects. For Najmah, the Iraqi Drilling Company will be the state partner. The South Oil Company is state partner for Qaiyarah....

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