BAGHDAD — In late June, the Oil Ministry said that contracts to quickly
increase Iraqi oil production by 500,000 barrels per day would be signed in
July.
Iraq has acknowledged its failure to sign contracts with
Western energy majors.
Oil Minister Hussein Al Shahristani said Iraq did not sign technical
support agreements with any of five Western energy majors to develop six
crude oil blocks and two natural gas fields, Middle East Newsline reported. He identified the companies as
BP, Chevron, ExxonMobil, Royal Dutch Shell and Total.
Al Shahristani, at a June 30 news conference, did not say why the
contracts,
worth $500 million, had not been concluded.
But officials reported a dispute
with the Western majors over Baghdad's refusal to agree to production
sharing.
The oil fields slated for development were identified as Al Zubayr, Bai
Hassan, Kirkuk, Maysan, Rumaila and West Qurna Phase 1. Maysan consists of
three fields.
