Iraq's Talks with Exxon on Southern Oilfields in Final Stages-Minister
BAGHDAD, Oct 9 (Reuters) - Iraq's talks with Exxon Mobil to develop a multi-billion-dollar project to boost output from several southern oilfields are nearing completion, oil minister Jabar al-Luaibi said on Monday.
"Talks are in advanced final stages with Exxon to develop and finance the important south project," Luaibi told reporters after meeting an Exxon delegation in Baghdad.
The "Integrated South Project" consists of building oil pipelines, storage facilities and a seawater supply project to inject water from the Gulf into reservoirs to improve production, said Luaibi.
The enhanced recovery project covers the Luhais, Nassiriya, Tuba, Nahr Bin Umar and Artawi oilfields.
Iraq, OPEC's second-largest producer, had approached PetroChina and Exxon Mobil about investing in the project, Iraqi officials have said.
Luaibi separately asked Turkey's state oil company TPAO on Monday to resume operations to develop the Mansuriya gas field in the eastern Diyala province. TPAO halted operations in 2014 after Islamic State overran large parts of Iraq.
Luaibi made the request at a meeting with the Turkish ambassador to Iraq, according to oil ministry spokesman Asim Jihad.
"The oil minister encourages Turkish energy companies to participate in developing Iraq's oil and gas projects," said Jihad. (Reporting by Ahmed Rasheed; Writing by Maher Chmaytelli; Editing by Louise Heavens, Greg Mahlich)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- USA Driving Activity to Increase to All-Time Highs
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension