World Tribune.com

Post-Saddam Iraq awards its first oil contracts

Special to World Tribune.com
MIDDLE EAST NEWSLINE
Wednesday, February 23, 2005

BAGHDAD — Iraq has awarded its first oil development contracts since the fall of the Saddam Hussein regime.

The Oil Ministry has awarded development contracts to companies from Canada and Turkey. Turkey's Everasia was awarded a project to develop the Khurmala Dome oil field in northern Iraq. Canada's Ironhorse Oil and Gas was selected to develop Himrin field.

Officials said the awards required Cabinet approval. Everasia was said to have beaten Ireland's Petrel Resources.

The projects would include the construction of flow lines, gas separation stations in an effort to increase production at these sites.

Officials said the Oil Ministry sought to produce 100,000 barrels of oil per day at Khurmala.


Copyright © 2005 East West Services, Inc.

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