Iraq begins Sunday and ends Dec. 30 with initialing of the oil contracts awarded Dec. 11 and 12, to be sent to the Council of Ministers.
Tag Archive for 'Iraq'
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Representatives of the two oil companies initialed a contract with the Iraqi Oil Ministry Sunday, though now begins the longer process of Council of Ministers approval.
Thanks to two oil auctions, within eight years Iraq may eclipse Saudi Arabia to become the largest oil producer in the world. Many obstacles, however, remain.
A breakdown of the expected oil production from the 10 fields Iraq awarded for development to foreign oil companies since June 30.
Lukoil is returning to Iraq’s West Qurna oil field, which it had a previous contract for developing under Saddam Hussein.
In a surprise change of heart, the Angolan company agrees to the Ministry’s terms after refusing them only yesterday.
China leads the way, taking on three competitors and winning Halfaya in Missan province, which has occasionally seen Mahdi Army but has been relatively calm.

