Iraq Grants Oil Contracts to 8 Countries; Excludes US Firms

April 25th, 2009 - by admin

Fatima Kamal / Azzaman & Razaq Nameq / Azzaman – 2009-04-25 22:49:43

Nine Foreign Firms Win Service Contracts to Develop 11 Oil Fields in Iraq
Fatima Kamal / Azzaman

BAGHDAD (April 7, 2009) — The Oil Ministry has revealed the names of international firms that have won service deals to develop 11 oil fields in the country. A statement by the ministry said the contracts will be implemented with joint cooperation and participation from the Iraqi side.

The companies come from Russia, Angola, Kazakhstan, Pakistan, Vietnam, India, Japan and Britain. The list includes no US firms though the fields to be developed are among Iraq’s most prized such as Majnoon and West Qurna.

“These companies will help Iraq reap huge financial returns and contribute to efforts to raise employment levels substantially in the country,” a ministry official, refusing to be named, said.

Foreign firms with contracts with the Kurdish regional government in the north were excluded, the official added.

He said the foreign firms will be rewarded for the services they offer while the Iraqi side will be in full control of output, production processes and exports.

Under the contracts, the firms will dig up new wells, reinforce existing ones, construct pipeline networks, supply Iraqi power stations with oil and gas and build the necessary installations.

“All these operations will be implemented in partnership with the Iraqi side,” the official added.

Iraq and Iran to Develop Joint Oilfields
Razaq Nameq / Azzaman

BAGHDAD (April 24, 2009) — Iraqi Oil Minister Hussein Shahristani is on a three-day visit to Tehran to review the possibility of joint development of oilfields straddling international borders.

The minister is scheduled to meet his Iranian counterpart and also hold talks on how to expand bilateral development in areas of energy, power, exploration and refining. Shahristani wants Iraq’s neighbors, particularly Iran, Kuwait and Saudi Arabia to work together to develop joint oilfields.

As Iraq lacks the means to do so, the minister hopes any exploration on the part of these countries will not be at Iraq’s expense and share of output.

Iraq and Iran cooperate on various fronts. Iran has emerged as the country’s number one trade partner with the value of bilateral trade expected to hit $5 billion by the end of the year, most of it in Iran’s favor.

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