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Exxon consortium wins West Qurna initial rights
- Iraq: Sunday, November 08 - 2009 at 10:50
Asim Jihad, Iraq's oil ministry spokesman has announced that a consortium led by US-based Exxon Mobil has won initial rights to develop Iraq's West Qurna field, Reuters has reported. Under the 20-year contract, the group plans to raise the field's output nearly five-fold to 2.325 million barrels per day (bpd) from less than 500,000 bpd at present. The consortium would get a remuneration fee of $1.90 per barrel, the ministry said.
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StaffSunday, November 08 - 2009 at 10:50 UAE local time (GMT+4)
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