ABU DHABI — A U.S. energy major with large holdings in Qatar is crafting a strategy to enter
the oil sector in Iraq.
ExxonMobil intends to play a major role in energy exploration and
Iraq in 2010, Middle East Newsline reported. Executives said ExxonMobil has been competing to win contracts
to develop leading oil fields for Baghdad.
"I hope Iraq creates the conditions that will allow a company like
ExxonMobil to be a participant in a significant way," ExxonMobil chief
executive officer Rex Tillerson said.
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"That's the dialogue we are having
with them to make them understand what conditions will be necessary for us
to take risk with our capital and have the opportunity to be successful over
the long term."
ExxonMobil already has a major stake in Qatar's energy market. The
company has been contracted to develop projects meant to double Qatari's
liquefied natural gas production to 62 million tons in 2009.