IRAQ - Awaiting Passage.
The law will create INOC which will be responsible for prised oilfields already discovered and producing. These fields, such as West Qurna, Majnoon and Nahr Umr, are coveted by the majors. Under Saddam a Russian group headed by LUKoil had signed a deal to develop West Qurna, but that was cancelled by Iraq in 2002. Baghdad is reviewing a deal to develop al-Ahdab field which had been signed with the state-owned China National Petroleum Corp (CNPC) and China's state arms manufacturer Norinco. Total has initialled deals for Majnoon and Nahr Umr. Shahristani said PSAs had not been proposed yet as an investment model.
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|Publication:||APS Diplomat Operations in Oil Diplomacy|
|Date:||Mar 19, 2007|
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