Iraq “to Cancel Total’s Halfaya Oil Contract”

By John Lee.

Reuters reports that Baghdad is working to cancel Total‘s involvement in the Halfaya oilfield, following the company’s announcement that it signed exploration deals in Kurdistan.

Abdul-Mahdy al-Ameedi, the director of the oil ministry’s contracts directorate, said on Wednesday:

We are working to cancel Total’s stake in the Halfaya contract. We will disqualify and terminate the contract of any company signing a deal with the Kurdistan region without the approval of the oil ministry.

According to the report from Reuters, Total declined to comment on the Iraqi statement.

Total and its partners recently started production at Halfaya oilfield.

PetroChina, a subsidiary of China National Petroleum Corp (CNPC), China’s largest energy producer, holds 37.5% of the Halfaya consortium, while Total and Petronas each hold a 18.75% stake in the consortium, with Iraq’s state partner holding the remaining 25%.

(Sources: Reuters)

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