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Iraq, Angola's Sonangol strike deal over oil field
Baghdad (AFP) Dec 12, 2009 Angolan energy firm Sonangol said it reached agreement with Iraq on Saturday over the Qaiyarah field in northern Iraq. The two sides had failed to strike a deal on Friday when Qaiyarah was auctioned because Sonangol refused to lower the per-barrel fee it would accept to work on the field to five dollars from an initial offer of 12.50 dollars. "We discussed this, and we found the five-dollar operating price acceptable," a spokesman said at the oil ministry hall where the auction is set to continue on Saturday. The firm will sign a preliminary contract with Iraq in two weeks, Oil Minister Hussein al-Shahristani said. Sonangol was the only company to submit a bid on Qaiyarah, which is in Nineveh province in northern Iraq with projected output of 120,000 barrels per day. There is currently no production at Qaiyarah, which has known reserves of 807 million barrels. Iraq is carrying out two days of auctions on rights to exploit oil fields as it seeks to dramatically boost its crude output and become one of the world's biggest oil producers. Share This Article With Planet Earth
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CNPC-led consortium wins contract for Iraq's Halfaya fieldBaghdad (AFP) Dec 11, 2009 A consortium led by China's CNPC was awarded the contract for Iraq's Halfaya oil field at an auction on Friday, Oil Minister Hussein al-Shahristani said. The group also includes Malaysia's Petronas and France's Total. It requested fees of 1.40 dollars per barrel of oil extracted from the field, and projected that it would produce 535,000 barrels per day. Halfaya, in southern Iraq nea ... read more |
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