Turkey TPAO Joins CNOOC To Develop Iraq Missan Field

14 May 2010 - Dow Jones

State-run Turkish Petroleum Corp., known as TPAO, has decided to join Cnooc Ltd. the Hong Kong-listed unit of China Offshore Oil Corp. to develop Iraq's Missan oil field complex in southern Iraq, a senior Iraqi Oil Ministry official said Thursday.

"The ministry has agreed to a request submitted by TPAO to join the consortium led by Cnooc to develop Missan oil fields," Sabah Abdul Kadhem al-Saadi, head of the legal and commercial office at the ministry's Petroleum Contracts and Licensing Directorate, told Dow Jones Newswires.

A deal for Missan oil fields, with proven reserves of 2.5 billion barrels, is expected to be sealed Monday after Cnooc-led consortium agreed to the ministry's terms

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