Six oil company technology contracts between Iraq’s governors and the supermajor oil oil companies, each around $500 million, look “likely to be abandoned” according to a report in U.K. newspaper The Telegraph citing the U.S. embassy in Iraq.
The paper reported Charles Ries, business coordinator at the US embassy in Baghdad, said a consortium led by US-based Anadarko had failed to win agreement with Iraqi officials.
The fall-out is understood to be likely no-goes for deals once seen as certain for Shell, a consortium of Shell-BHP Billiton-BP-ExxonMobil and another grouping of Chevron-Total.
Meanwhile, its business as usual for some smaller companies in Kurdish Northern Iraq, where oil companies have been producing for months and exporting via pipeline to Turkey.
One such company is Norway-based DNO International, which on Monday reported 11,200 barrels per day from its Kurdistan operations despite curbs to production for the local market set out by local officials ahead of a licensing review by the Kurdistan Regional Government
Add a Comment to this Article
Please be civil. Job and promotion will not be added into the comment page.