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Shell In Talks With Iraq Over Kirkuk Oil Field – Sources

THE WALL STREET JOURNAL

OCTOBER 16, 2009

By Hassan Hafidh
Of DOW JONES NEWSWIRES

ISTANBUL (Dow Jones)–Royal Dutch Shell PLC (RDSA) is renegotiating with Iraq about the Kirkuk oil field, one of Iraq’s largest oil producing areas, after it didn’t win access to the field in the country’s first licensing auction, held in Baghdad in June, company sources and Iraqi oil officials said Friday.

“Shell has held talks with the oil ministry on Kirkuk recently and both will meet again soon,” one company source said.

Shell didn’t accept the Iraqi oil ministry payment fees of $2 a barrel in June’s auction.

Shell has asked the ministry to raise the per barrel fee, Iraqi oil officials said.

The oil ministry needs to get the approval of the Iraqi prime minister to allow such increase, they said.

-By Hassan Hafidh; Dow Jones Newswires; + 962 799 831831; [email protected]

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