Wednesday March 5 2008
By SINAN SALAHEDDIN
Associated Press Writer
BAGHDAD (AP) – Iraq’s cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation’s crude output, a ministry official said Wednesday.
The two-year deals, known as technical support agreements, or TSAs, are designed to develop five producing fields to add 500,000 barrels per day to the country’s 2.4 million barrels per day output.
Last December, Royal Dutch Shell PLC, BP PLC, ExxonMobil Corp. and Chevron Corp. submitted technical and financial proposals for the five fields and received counterproposals from the Iraqi side. read more
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