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Thursday, May 15, 2008 (MORE TO FOLLOW) Dow Jones Newswires May 15, 2008 04:31 ET (08:31 GMT) Thursday, May 15, 2008 By Hassan Hafidh OF DOW JONES NEWSWIRES AMMAN (Dow Jones)--Iraq has asked major international oil companies to submit their final contract proposals to boost production at the country's largest oil fields after several rounds of talks in the Jordanian capital, Amman, since the beginning of this year, people close to the Iraqi Oil MinistryOil Ministry They said technical talks between Iraqi oil officials and senior executives from Royal Dutch ShellRoyal Dutch Shell "The technical talks were concluded and the Iraqi negotiators asked companies to submit their final proposals on contracts to the (oil) ministry," an Iraqi source familiar with these talks told Dow Jones Newswires. Senior Iraqi officials, including the oil minister, would examine each company's proposal and decide whether to sign the contract or not, another Iraqi oil source said. He didn't rule out a few slight changes to these contracts before they were signed. Earlier, Iraqi oil sources said that these technical support contracts could be signed as early as June. Each would last two years and could be extended for another year. Iraq wants to increase production by 600,000 barrels a day in six producing oil fields in northern and southern Iraq. They are Kirkuk in the north, West Qurna 1, Zubair, Missan, Rumaila and Luhais in the south. Iraq is currently producing between 2.3 million and 2.4 million barrels a day from its southern and northern oil fields. Iraqi oil officials have estimated the value of each contract to be around $500 million. -By Hassan Hafidh, Dow Jones Newswires; + 962 799 831831; hassan.hafidh@dowjones.com (END) Dow Jones Newswires May 15, 2008 04:32 ET (08:32 GMT) |
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| Article originally published by Dow Jones Newswires 15-May-08 | |||
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