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Page added on June 30, 2012

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Iraq to sign oil deal with firms

Production

Iraq will sign initial contracts in July with three foreign companies that won deals to explore oil and gas blocks as it looks to attract more foreign investment to develop its energy sector.

The Opec member is expected to be the world’s biggest source of new oil supplies over the next few years after signing contracts with international oil companies and plans to open up more rounds for additional oil and gas blocks for auction.

Abdul-Mahdy Al Ameedi, director of the oil ministry’s contracts and licensing directorate said deals will be signed with Pakistan Petroleum on July 15, with a consortium led by Kuwait Energy on July 16 and with a group led by Russia’s Lukoil on July 17.

Gulf News



One Comment on "Iraq to sign oil deal with firms"

  1. BillT on Sun, 1st Jul 2012 1:39 am 

    Interesting that the country that went into Iraq for the oil is not on the list of contracts. Little Kuwait is the only one friendly to the Empire. That little adventure will, by some estimates, cost the Empire about $5 trillion dollars before the last wounded soldier is dead. But then, the Afghanistan adventure is in the same cost range and we have Zero to show for that either. Only the 1% are profiting from these misadventures, but then, that is their purpose.

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