The Iraqi Ministry of Oil today awarded Shell and Petronas Carigali a contract for technical assistance in developing the Majnoon field, subject to ratification by the Iraqi authorities.

Shell will operate the Development and Production Service Contract
under the terms of the second licensing round for Iraqi oil and gas
contracts. As laid out by the Ministry of Oil those terms call for 25%
of the participating interests in all licences to be held by the Iraqi
State. Shell will hold a 45% share, with Petronas holding 30%.

The consortium bid a plateau production of 1.8 million barrels of oil
per day, up from a current level of approximately 45,000 barrels of oil
per day. Majnoon is one of the largest oil fields in the world, and
Shell and Petronas look forward to developing this world class resource
base with its partners.

Royal Dutch Shell plc is a leading global energy company whose
subsidiaries employ 102,000 people and operate in more than 100
countries and territories. Shell engages in the exploration and
production of oil and natural gas, the refining and marketing of
transportation fuels and other oil products, the production of
chemicals and the development of renewable energy.

Source: Shell

Search to find what you want

• Iraq and Shell sign the consortium agreement Majnoon oilfield

    The Ministry of Oil of the Republic of Iraq, Royal Dutch Shell plc (“Shell”) and Petronas Carigali (“Petronas”) Sunday signed a 20-year contract to provide technical assistance in the development of the Majnoon oilfield. “Iraq’s oil and gas reserves are among the largest in the world and we look forward

• Japan, Malaysia to develop Iraqi oil field developer ink too

    Japan Petroleum Exploration Co. said Tuesday it and Malaysian oil company Petronas have jointly concluded a contract with South Oil Co., an Iraqi government-run oil firm, to develop an oil field in Garraf in southern Iraq.

• Iraq, Shell

    Talks between Iraq and Royal Dutch Shell on a natural gas deal near the southern oil hub of Basra are taking longer than expected but still ongoing, a senior Iraqi oil official said on Friday. ‘The heads of agreement will be extended and the project will be presented to the

• Initials Iraq oil deal with Petronas Japex Group

    Iraq initialled a deal with Malaysia’s Petronas and Japan’s Japex on Monday to develop the Garraf oil field in southern Iraq, oil ministry spokesman Assem Jihad told AFP. “Today, the oil ministry initialled a contract with the Petronas-Japex consortium,” Jihad said. The two companies are aiming to ramp up output

• Iraq will be shell-deal likely delayed

    A senior Iraqi oil official says a final deal to tap natural gas in a joint venture with Royal Dutch Shell PLC is likely to be delayed until after January’s national elections. A preliminary deal was signed last September for a joint venture to gather, process and market associated natural gas

• Iraq says may up global oil producer

    Iraqi Oil Minister Hussain al-Shahristani yesterday said he expected Iraq to become the world’s top oil producer in six to seven years, and that Opec should take into account Iraq’s need to rebuild its economy. Emerging from the shadow of war and keen to generate petrodollars to rebuild, Baghdad looks

• Petronas chief executive and president Hassan…

    Petronas chief executive and president Hassan Marican is likely to be replaced by Malaysian International Shipping Corporation’s (MISC) chief Shamsul Azhar Abbas. A Singapore Business Times report said Shamsul, 57, has headed every single department at the national oil company save finance

• Iraqi cabinet ratifies four major oilfield deals

    Iraq’s cabinet has ratified deals with foreign energy firms to develop four oilfields, the government spokesman said on Tuesday. “The Cabinet has ratified four oilfields: Majnoon, Gharaf, and in Nineveh province Qayara and al-Najmah,” spokesman Ali al-Dabbagh said. Last month, groups including Royal Dutch Shell and Malaysia’s Petronas PETR.UL initialled

• Petronas are working with the Norwegian oil company

    Petronas is keen to work with Norwegian oil and gas companies to leverage on their expertise in deepwater exploration, said newly-appointed president and chief executive officer Datuk Shamsul Azhar Abbas. “Recently Petronas acquired six new exploration blocks in Greenland from Britain’s Cairn Energy plc with the aim of strengthening its

• Iraq s oil auction hits the jackpot

    Former United States vice president Dick Cheney, ex-defense minister Donald Rumsfeld and assorted US neo-cons will have plenty of time to nurse their apoplexy.

• Shell optimistic about Malaysia s oil and gas industry

    World’s oil giant Shell will continue to expand its investment in Malaysia in view of the potential of its deepwater fields. Malaysia is a key country for the Shell group so that it will continue to invest in the country to sustain and strengthen its position as a leading international

• Iran to conclude talks with Shell, Repsol

    Iran is close to finalizing negotiations with Royal Dutch Shell and Repsol concerning their participation in a multi-billion dollar Liquefied Natural Gas (LNG) project in Iran. According to head of Iran’s National Gas Exporting Company (INGEC) Reza Kasaeizadeh by finalizing the negotiations between Iran and the two European oil and

• Iraq wants to establish its national oil company

     The Iraqi government says the Cabinet has approved a draft law to revive a national oil company to oversee industry development. The Iraqi National Oil Co. was established in 1964 but Saddam Hussein dissolved it in 1987 as the Iraq-Iran war curtailed oil-related activities. Government spokesman Ali al-Dabbagh said Tuesday in a

• Global demand for contract natGAS 2009-Petronas

    World natural gas demand likely fell this year but a new contract with China has allowed Malaysia’s liquefied natural gas plants to run at capacity, the chief executive of Malaysia’s Petronas [PETRA.UL] said on Thursday. Tan Sri Hassan Marican said Chinese demand, coupled with sales of spot cargoes to other growing

• Global demand for contract natGAS 2009-Petronas

    World natural gas demand likely fell this year but a new contract with China has allowed Malaysia’s liquefied natural gas plants to run at capacity, the chief executive of Malaysia’s Petronas [PETRA.UL] said on Thursday. Tan Sri Hassan Marican said Chinese demand, coupled with sales of spot cargoes to other growing