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Shell-led group wins Iraq Majnoon oilfield deal

REUTERS

BAGHDAD, Dec 11 (Reuters) – Royal Dutch Shell (RDSa.L) and partner Petronas of Malaysia won a deal to develop Iraq’s super-giant Majnoon oilfield on Friday, said Oil Minister Hussain al-Shahristani, in the country’s second bidding round since the 2003 U.S. invasion.

The companies proposed a per-barrel fee of $1.39 and a plateau production target of 1.8 million barrels per day, (bpd) compared to a current level of 46,000 bpd.

France’s Total (TOTF.PA) had also bid for the Majnoon field, which has estimated reserves of 12.6 billion barrels of oil.

(Reporting by Missy Ryan and Ahmed Rasheed; Editing by Ayla Jean Yackley)

REUTERS ARTICLE

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