gmb Posted November 14, 2010 Report Share Posted November 14, 2010 Iraq signs deals for two gas fields Baghdad: 1 hour and 54 minutes ago Iraq's oil ministry signed deals with foreign companies on Sunday to develop its Mansuriyah and Siba natural gas fields, as it tries to boost its energy production and break into the lucrative global gas market. The Opec oil producer signed a deal with South Korean group Kogas, Kuwait Energy Company, and Turkey's state-owned TPAO to develop the Mansuriyah field near the Iranian border in volatile Diyala province. The consortium won the deal for Mansuriyah at an auction on October 20. Its proposed plateau production target was 320 million standard cubic feet per day, and it set a remuneration fee of $7 per barrel of oil equivalent. Iraq then signed a deal with Kuwait Energy and TPAO to develop its Siba gas field in the relatively peaceful southern oil hub of Basra. The companies won Siba with a plateau production target of 100 million cubic feet per day and a remuneration fee of $7.50 per barrel of oil equivalent. TPAO has said the two partners expected to invest $1 billion in the field. "After initially signing the contracts of Mansuriyah and Siba, we will send them to the cabinet for final approval, and then we will finally sign the contract with the companies," said Abdul-Mahdy Al-Ameedi, head of the ministry's licensing and contracting office. -Reuters http://www.tradearabia.com/news/OGN_189027.html Link to comment Share on other sites More sharing options...
jfv Posted November 14, 2010 Report Share Posted November 14, 2010 thanks for the post... Janine Link to comment Share on other sites More sharing options...
Kenny-Tx Posted November 14, 2010 Report Share Posted November 14, 2010 Has to be good news. Thanks for the post.. Link to comment Share on other sites More sharing options...
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