Iraq Negotiates with Exxon, Petrochina

By John Lee.

Iraq's Deputy Oil Minister has said that Iraq is negotiating with Exxon Mobil and Petrochina to develop the Artawi and Nahran Omar [Nahr Bin Umar, Nahr Umr] oil fields in the south of the country.

Fayyad Al-Nima, who has been acting oil minister since Adel Abdel Mahdi [Adil Abd Al-Mahdi] "suspended his participation" in the cabinet in March, told Bloomberg that the Oil Ministry hopes hopes to increase combined production at the two fields from around 70,000 barrels per day to 550,000 bpd.

The ministry wants to start the project within six months.

(Source: Bloomberg)

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