Basra oil acquires stake in Zubair field

30/05/2017

Basra Oil Company has signed a contract with Eni, which is the main operator in the Al Zubair oil field, On last Sunday. The contract amount is around 31.25% of the total amount of the service contract at Zubair oilfield.

General Director of the Basra Petroleum Company Hayyan Abdul Ghani Abdul Zahra stated that amendment of operational contract of Zubair oilfield has been done. The consortium will operate in this oilfield as a contractor.

Abdul Zahra further stated that after series of negotiations and dialogues, this step has been finally concluded. Ministry of Oil of Iraq has also participated in the discussion. The main hurdles in the process were creating legal sections and licensing contracts.

Last Update:: 30/05/2017

Iraq Directory