Chevron, Total, Petrochina May Develop Iraq's Majnoon Oilfield


VIENNA, Nov 30 (Reuters) - Chevron, Total and PetroChina may form a consortium to develop Iraq's Majnoon oilfield which Royal Dutch Shell wants to exit, Oil Minister Jabar al-Luaibi said in Vienna on Thursday. Shell plans to exit Majnoon and hand over its operation to state-run BasraOil Co. by the end of June 2018.

Iraq is developing the Majnoon field, which currently produces around 235,000 barrels of oil per day, by itself until it can find a foreign partner.

Luaibi said in October that Iraq might offer Chevron and Total terms to develop the Majnoonoilfield different from those it had given to Shell, which has said it wants to leave because of unfavourable changes to fiscal terms.

(Reporting by Ahmad Ghaddar; writing by Ahmed Aboulenein; editing by Jason Neely)


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