Angolan state firm took a run at southern Ninewa fields, but the area produced more terrorism than oil.
Published Wednesday, February 26th, 2014
DUBAI - Sonangol is leaving Iraq, following four years working two heavy oil fields in a lawless swath of Ninewa province that was consistently plagued by armed groups.
"Sonangol is stepping out from Iraq," a senior official close to the development projects at the Qaiyarah and Najmah fields said Wednesday. Sonangol "didn't have intention to quit, but… the situation got worse.… [The project] requires massive investment and there are big risks there."