Jan 29 2012 |
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Total Submits Plan To Utilize Gas From Iraq Missan Oil Fields -Official
Sunday, Jan 29, 2012
(This story was originally published Friday.)
By Hassan Hafidh
Of DOW JONES NEWSWIRES
BASRA, Iraq (Dow Jones)--France's oil major Total SA (TOT) has submitted an offer to the Iraqi Oil Ministry to capture and process associated gas flared from oil fields in Iraq's Missan governorate, a senior ministry official said Friday.
Khudhier said Total 's offer, which is still under study by the Oil Ministry, is "too expensive." He gave no further details.
Buzurgan is being developed by China's Cnooc Ltd. (0883.HK) under a deal awarded in 2009. Total , along with PetroChina Co. Ltd. (0857.HK) and Malaysia's Petronas, are currently developing the nearby Halfaya.
Gulfsands Petroleum PLC (GPX.LN) said last year it was also negotiating a contract with the Iraqi government to utilize gas from Buzurgan. Khudhier, however, didn't say that Gulfsands has submitted an offer.
Iraq, which holds the world's 11th largest gas reserves at 112.6 trillion cubic feet, signed last year a $17.2 billion deal with Royal Dutch Shell PLC (RDSA) to capture and process gas from three fields in Basra--Rumaila, West Qurna phase 1 and Zubair.
-By Hassan Hafidh, Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
29-01-12 0355GMT
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