Discussions Continue on Reducing Oil Targets

Shell is reported to be in “exploratory discussions” with the Iraqi government to lower the target for oil output at the Majnoon field.

The Iraqi government agreed in January with Lukoil to cut targeted production at the West Qurna-2 field.

It is also in talks with Exxon Mobil to reduce targeted output at West Qurna-1, and with Eni for reductions at Zubair.

Shell's regional vice president, Mounir Bouaziz, told Bloomberg that, whether the discussions result in a reduced plateau, “it is important that the government keeps up with its efforts to provide an enabling environment for the oil and gas investments”.

(Source: Bloomberg)

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