Japan Hopes for Stakes in Iraq Nassiriya Oil Field



TOKYO (Dow Jones Newswires), Jul. 9, 2009

Japan reiterated Thursday its hope to get a stake in Iraq's Nassiriya oil field.

Japan's Minister of Economy, Trade and Industry Toshihiro Nikai, who met with Iraqi Oil Minister Hussain al-Shahristani in Tokyo Thursday, requested special consideration of stakes sought by Japanese companies at Nassiriya and other oil and gas fields, said a senior METI official who also attended the meeting.

Shahristani told Nikai that Iraq would welcome Japanese companies' interest in the fields, the official said.

The Iraqi oil minister is visiting Japan to attend a seminar on Iraq investment opportunities to be held in Tokyo Friday.

A consortium that includes Nippon Oil Corp., Japan's largest refiner by capacity, Inpex Corp. and JGC Corp. is seeking stake in the oil field, which is expected to be awarded outside planned Iraqi government auctions.

Italy's Eni SpA, Nippon Oil and Spain's Repsol YPF SA are competing for a contract to develop the field, the Iraqi Oil Ministry said in January.

The field, with an estimated crude oil reserve of around 4 billion barrels, could produce up to 300,000 barrels a day, Iraqi oil experts say.  

Copyright (c) 2009 Dow Jones & Company, Inc.


RELATED COMPANIES
Company: ENI more info
Operates 11 Offshore Rigs
 - BSEE: Italy's Eni Begins Drilling Oil Well In Alaska's Beaufort Sea (Dec 27)
 - Eni 'Mission Impossible' Points to Seismic Shift for Big Oil (Dec 22)
 - Sanction-Proof Oil Rig Beats US Policy From Cuba to Russia (Dec 19)
Company: Repsol more info
 - Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
 - Repsol Says Drilling Suspended On Vietnam Oil Block Disputed By China (Aug 02)
 - China Urges Halt To Oil Drilling In Disputed South China Sea (Jul 25)
Company: Inpex more info
Operates 1 Offshore Rigs
 - Inpex Halts Construction At Australian LNG Site After Worker Dies (Nov 30)
 - Japan's Inpex Says Ichthys LNG Project On Track For March Start (Nov 08)
 - Statement: Indonesia To Extend Inpex's Masela LNG Contract By 27 Years (Oct 19)
Company: Nippon Oil Exploration more info
 - Canadian Oil Sands Halts Syncrude Production After Fire, Prices Spike (Aug 31)
 - Tap Updates Zola-1 Drilling in Carnarvon Basin (Dec 22)
 - Iraq-Nippon Talks on Nassiriya Oil Field Deadlocked (Mar 01)
Company: Iraq Ministry of Oil more info
 - Exxon Spearheads Iraqi Water-Injection Project (Apr 19)
 - Iraq to Alter Signature Bonuses on 2 Oil Field Deals (Apr 15)
 - Iraq Plans New Licensing Auction for 3 Gas Fields (Apr 14)
Company: JGC more info
 - Australia's UGL Faces More Provisions On Work For Ichthys LNG (Jun 06)
 - JGC Clinches $240M EPC Contract to Build Gas Processing Plant in Aceh (Apr 01)
 - PETRONAS FLNG2 Reaches Milestone with Keel Laying at SHI's Shipyard (Nov 09)