Four Western oil companies return to Iraq, including Shell and Total

Four Western oil companies Intends to sign oil contracts with the Iraqi government under which those companies back to the country for the first time in 36 years.

The agreements with four companies in the form of service contracts whereby get paid for their work, but did not get a license for production of Iraqi oil reservoirs.
A report published by the New York Times said that companies Exxon Mobil, P.P ,Royal Dutch Shell and TotalFinaElf, which was linked to partnership relations with the oil company before the nationalization of Iraq’s former president Saddam Hussein’s oil industry as well as Chevron added to a number of smaller firms, are currently talks with the Iraqi Oil Ministry.
The newspaper which based on information from the Ministry and oil companies and American diplomat said that the expected declaration of agreements on June 30 and will be an extension of the existing agreements under which those companies Consultancy and free training to the Iraqis.
46 associated companies, including companies from China, India and Russian memorandums of understanding to provide those services to Iraq, but did not get the contracts.
It is noteworthy that TotalFinaElf and Shell hoped the long-term access to a share of power projects in Iraq, giving greater opportunities in the long-term exploration and development of fields in the country that possesses the third largest oil reserves in the world.
Shell and TotalFinaElf competed at the beginning of this year to develop the field reverse in the north of Anbar west of Baghdad, one of the most violent areas in Iraq for providing this source of energy to Europe.
The reverse field is located near the Iraqi border with Syria and believes that comprises about seven trillion cubic feet of gas, or about 6% of total estimated gas presence in the country of 112 trillion cubic feet.
Can be produced from the field reverse some fifty million cubic feet of gas per day with potential to increase this quantity to 450 million cubic feet per day in case of further development of the field.
The Iraqi government is keen to start operations in this field as soon as possible and to export its products to Europe through Syria, seeking to restore the country’s revenues.
Rueters