Iraq finalizes oil deals this month

Iraq’s Oil Ministry will settle deals later this month with foreign energy firms for its Majnoon, Gharaf, Qayara and Najmah oilfields, said a top official.

The Head of the Legal Section of Iraq’s Petroleum Contracts and Licensing Directorate, Sabah Abdul Kadhim said the ministry would sign a final service contract for supergiant Majnoon, which was awarded to Royal Dutch Shell and Malaysia’s Petronas in December energy auction, on January 17.

A day later, on January 18, it will sign a deal for smaller field Gharaf with Petronas and the Japan Petroleum Exploration Co (Japex).

By the end of January, the ministry will sign with Angola’s Sonangol for northern Qayara and Najmah fields, Abdul Kadhim added.

He also highlighted that a delegation from Nippon Oil Corp would meet Iraqi officials on January 24 in a bid hopefully to complete long running talks over Nassiriya oilfield, pointing out that the talks would not be easy.


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