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Iraq may offer Total, Chevron terms different from Shell for Majnoon field development
October 21, 2017 / 12:54 PM / a month ago

Iraq may offer Total, Chevron terms different from Shell for Majnoon field development

BAGHDAD (Reuters) - Iraq may offer Chevron (CVX.N) and Total (TOTF.PA) terms to develop the Majnoon oilfield different from those it had given to Royal Dutch Shell (RDSa.L), Iraqi Oil Minister Jabar al-Luaibi said on Saturday.

FILE PHOTO: A worker walks through the Majnoon oilfield in Basra, 420 km (261 miles) southeast of Baghdad, October 6, 2013. REUTERS/Essam Al-Sudani

Iraq will develop the Majnoon oil field in southern Iraqi by its own means until it can find a foreign partner, Luaibi told reporters, adding that no company has been selected yet.

Luaibi said on Oct. 9 that Chevron and Total are among the companies that have expressed interest in developing Majnoon that Shell has said it wants to leave because of unfavourable changes to fiscal terms.

Reporting by Ahmed Rasheed, writing by Maher Chmaytelli; Editing by Angus MacSwan

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