Latest oil company operating in Iraq left Baghdad and headed to Erbil

SATURDAY, FEBRUARY 11, 2012 19:18 HITS: 88

Twilight News / Company announced France's Total oil, Saturday, for it is studying possible investments in the province of Kurdistan, as she noted that it does not intend to compete for contracts in the next round of licenses for oil and gas organized by Baghdad.

The chief executive of Total, the latest company working in Iraq in the oil, he was studying possible investments in Kurdistan, as well as his company does not intend to compete for contracts in the next round of licenses for oil and gas organized by Baghdad.

He said Christophe de Margerie told a news conference "Based on what we hear does not seem to fourth round of the conditions of licenses in Iraq is very attractive," noting that "Pkordstan attention due to the oil and gas reserves are abundant and to the best contractual terms."

Total owns a minority stake in a consortium led by PetroChina won the contract to develop the Halfaya oil field in Maysan province, but says, has long been presented by the fees range from Iraq and dollars and two dollars a barrel is not generous enough.

And Norway's Statoil was informed Iraq that it wants to exit from its stake in West Qurna 2 field in southern Iraq with an estimated reserves of about 12.9 billion barrels.

At the time the agreement was announced recently, de Margerie said that Statoil and its partner Lukoil will face difficulty in covering their costs fees amounting to $ 1.15 a barrel, they have approved.




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