Royal Dutch Shell Plc  .com Rotating Header Image

Iraqi Cabinet approves Exxon Mobil-Shell oil deal

Associated Press

11.10.09, 06:35 AM EST

BAGHDAD — Iraq’s prime minister says his Cabinet has approved a deal with a consortium led by U.S.-based Exxon Mobil to develop a prized oil field in the country’s south.

The Exxon Mobil ( XOM news people )-Royal Dutch Shell ( RDSA news people ) group will develop the 8.6 billion West Qurna 1 field and received $1.90 per barrel produced. It plans to boost production from 280,000 barrels per day to 2.325 million barrels within seven years.

The Oil Ministry is expected to finalize the 20-year service deal soon.

Prime Minister Nouri al-Maliki also said Tuesday that his government is still discussing a second deal with a consortium led by Italy’s Eni to develop the 4.1 billion barrel Zubair field.

Copyright 2009 Associated Press. All rights reserved.

Source Article

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “Iraqi Cabinet approves Exxon Mobil-Shell oil deal”

Leave a Comment

%d bloggers like this: