Sonangol told to Return to Iraq

By John Lee.

Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has told the Angolan oil company Sonangol to resume its work in developing the Qayara and Najmah oil fields in Nineveh governorate.

In 2010 Sonangol was granted a 75-percent stake in the fields, along with North Oil Company (25%), at a price of $6.00 per barrel, but it pulled out in 2014 following the invasion by the Islamic State group (IS, ISIS, ISIL, Daesh).

The fields have since been liberated from IS, and the fires at many of the oil wells have been extinguished.

At a meeting in Baghdad on Wednesday with Sonangol director Edson dos Santos, the Minister demanded that the company resumes work at the fields by the end of February.

(Source: Ministry of Oil)

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