
Syrian Oil and Gaz News
Iraqi PM meets Total chief ahead of oil announcement
Iraqi Prime Minister Nuri al-Maliki met the chief executive of French energy giant Total on Wednesday, weeks ahead of an announcement over which companies will be awarded contracts to work in the country.
“We appreciate France’s efforts to help Iraq, especially those of President (Nicolas) Sarkozy and the French prime minister (Francois Fillon),” Maliki said, after his talks with Christophe de Margerie.
“We are awaiting (Fillon’s) visit to Iraq with the owners of French companies and French business people,” Maliki said, referring to a planned visit by Fillon to Iraq, the date of which has not yet been confirmed.
Maliki said Iraq was interested in “improving relations with France in different fields” and invited Total to attend the announcement at the end of this month over which energy firms will be awarded contracts to work on six major oil fields and two gas fields.
De Margerie said his visit to Baghdad was intended to convey “the commitment of the French government and Total to cooperate with Iraq.”
“We are working on increasing cooperation with the oil ministry and other vital sectors,” he added.
During a visit by Iraqi Vice President Adel Abdel Mahdi to Paris in April, Iraqi officials confirmed that Total had joined with US energy firm Chevron to bid for a contract to exploit one of southern Iraq’s most promising fields.
In addition to that auction, which will be held separately to the main sale process for Iraqi oil fields, the officials said Total was interested in at least one other field.
Baghdad wants to sign service contracts with foreign energy firms, under which it would pay a fee for extracting oil rather than sharing any profits. That contrasts with the autonomous region of Kurdistan, where numerous profit-sharing deals have been struck.
Iraq hopes to pump six million barrels per day within the next four to five years, up from its current stated output of around 2.2 million bpd, as new projects come online.
Although Iraq has the world’s third largest proven reserves of oil after Saudi Arabia and Iran, development of the conflict-ravaged country’s fields has been very slow.
انقر هنا للطباعة