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Iraq 's economy entrusts new companies to develop "crazy" after the withdrawal of "Shell"[/size]
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2 hours ago
Iraq 's economy entrusts new companies to develop "crazy" after the withdrawal of "Shell"[/size]
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2 hours ago
Iraq's Oil Minister Jabbar al-Luaibi said on Thursday that new companies would develop the Majnoon field after Shell expressed its desire to exit.
"The Chevron, Total and PetroChina companies may form a consortium to develop the Majnoon oil field, which Royal Dutch Shell is seeking to exit," al-Allaibi told a news briefing on the sidelines of an OPEC meeting in Vienna.
Royal Dutch Shell plans to get out of a madman and hand over its operations to the state-run Basra Oil Company by the end of June 2018.
Iraq itself will develop the Majnoon field, which currently produces about 235,000 barrels of oil a day, until it finds a foreign partner.
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