Nov 21 2011 |
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Iraq To Sign Water Injection Deal With 4 Firms Nov 26 - Official
Monday, Nov 21, 2011
By Hassan Hafidh
Of DOW JONES NEWSWIRES
BAGHDAD (Dow Jones)--Iraq is expected to sign Saturday an agreement with four international oil companies to build a multi-billion-dollar oil field water injection plant, a senior Iraqi oil official said Monday.
Abdul Mahdy al-Ameedi, head of the Oil Ministry's Petroleum Contracts and Licensing Directorate, said U.K. super major BP PLC ( BP ), U.S. giant Exxon Mobil Corp. (XOM), Italy's Eni SpA (E) and Russia's OAO Lukoil Holdings (LKOH.RS) have agreed to build the first phase of the project, which is designed to produce some 4.2 million barrels a day of seawater to be injected into Iraqi oil fields in order to boost production.
Ameedi declined to give costs of the project but Iraqi oil officials had previously said that foreign companies had suggested the cost could be more than $3 billion.
-By Hassan Hafidh, Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
21-11-11 1311GMT
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