Iraq selects two firms for oil development deals

Dec 11, 2004 01:00 AM

Iraq has selected the international companies that it will sign contracts with to develop two large oil fields in north and middle of the country, an Iraq official said. Ahmed al-Shammaa, Iraq's oil undersecretary, said that the oil ministry had recommended names of the international firms for two upstream contracts for the development of the Khormala Dome, in northern Iraq near Kirkuk, and Hemrin, northeast of Baghdad.
"We have submitted our recommendation to the government to approve it before we sign the two contracts," al-Shammaa told. He said that each one of the two contracts worth between $ 150 mm and $ 200 mm.

Al-Shammaa who has been negotiating the two contracts, declined to name the companies that would win the two contracts.
"We will sign the contracts when we get the approval of the government," he said. Production from these two oil fields is expected to reach around 200,000-250,000 bpd.

Source: Dow Jones
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