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Basra Oil reveals the withdrawal of "Exxon Mobil" from the West Qurna 1 field
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Baghdad today - Basra
Today, Thursday, the Basra Company management revealed Exxon Mobil's decision to withdraw from the West Qurna 1 field in the south of the country.
"Exxon Mobil have a special policy for distributing their capital, and therefore they decided to leave in the first place," Hassan Muhammad Hassan, the company's assistant general manager for licensing rounds, told (Baghdad Today).
He added, "Basra Oil wants to preserve its entitlement as a company, and therefore there are efforts to buy their share in the field."
He pointed out that the purchase process is "according to the service contract that contains clauses," noting that "the company is structuring the withdrawal process, and there is little left to complete the process of purchasing the share and completing the process of their withdrawal .”
In January 2022, the former Oil Minister, Ihsan Abdul-Jabbar, announced that the Council of Ministers had approved the acquisition of the Iraqi National Oil Company's share of " Exxon Mobil " in the West Qurna 1 field, which is one of the giant fields in the country .
The West Qurna 1 field is considered one of the largest Iraqi oil fields, and it has extractable reserves that exceed 20 billion barrels .
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