Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China June 11, 2019. REUTERS/Stringer
Iraq is considering buying ExxonMobil's (XOM.N) stake in the southern West Qurna 1 oilfield through the state-owned Basra Oil Company, the country's oil minister said on Monday.
The oil ministry is discussing BOC "taking ownership of the Exxon stake in West Qurna 1 and leading the project, as happened with Majnoon," Ihsan Abdul Jabbar told a news conference, referring to the huge Majnoon oilfield in Iraq's south.
Iraq said last month that ExxonMobil was seeking to sell its 32.7% stake in the West Qurna 1 field, and that the oil ministry had started discussions with U.S. oil companies over a possible purchase. read more
ExxonMobil did not respond to a request for comment.
Abdul Jabbar also said at the news conference that the development of Iraq's Mansuriya gas field on the coast near the Iranian border is expected to cost $2.1 billion
China's Sinopec (000554.SZ) last month won a deal to develop the field in partnership with Iraq's state-run Midland Oil Company. read more
Abdul Jabbar added that he does not expect oil prices to drop below $65 a barrel and that lower oil prices should not be a concern after OPEC+ eases production cuts from May. read more
As a part of its drive to boost gas production, Iraq plans to invest $3 billion in the Basra Gas Company over the next five years to increase its production capacity by 40% to 1.4 billion cubic feet (bcf) a day, said Abdul Jabbar.
Basra Gas Company is a joint venture between state-owned South Gas Company, Shell and Mitsubishi.
Our Standards: The Thomson Reuters Trust Principles.
"gas" - Google News
May 03, 2021 at 05:35PM
https://ift.tt/3tc9Ksr
Iraq's Mansuriya gas field to cost $2.1 bln, says minister - Reuters
"gas" - Google News
https://ift.tt/2LxAFvS
https://ift.tt/3fcD5NP
Bagikan Berita Ini
0 Response to "Iraq's Mansuriya gas field to cost $2.1 bln, says minister - Reuters"
Post a Comment