Iraq May Offer Total, Chevron Terms Different from Shell for Majnoon Field

Source: Reuters 10/21/2017, Location: Middle East

Iraq may offer Chevron and Total terms to develop the Majnoon oilfield different from those it had given to Royal Dutch Shell, Iraqi Oil Minister Jabar al-Luaibi said.

Iraq will develop the Majnoon oil field in southern Iraqi by its own means until it can find a foreign partner, Luaibi told reporters, adding that no company has been selected yet.

Luaibi said on Oct. 9 that Chevron and Total are among the companies that have expressed interest in developing Majnoon that Shell has said it wants to leave because of unfavourable changes to fiscal terms.


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