Chevron and Total seeks contract with Iraq on oil field
Saturday, April 12th, 2008Chevron Corp. and Total confirmed that they are in talks with the Iraqi government to expand production at a major oil field in Basra, southern Iraq.
The negotiations will finalize a two-year deal to increase oil output at the West al-Qurna oil field in Basra, Iraq’s second-largest city.
Chevron confirmed their involvement after Total’s chief executive officer publicly discussed the proposed deal Thursday at an oil industry conference in Paris.
“We just want to be consistent with them and confirm that what they’re saying is accurate,” Glaubitz said.
West Qurna field is located about 40 miles west of Basra and is among Iraq’s 10 “super giant” fields with its reserves estimated between 15 to 21 billion barrels, according to Iraqi Oil Ministry and Energy Information Administration.
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