Exxon says wants to quit Iraq oilfield
Baghdad, November 7, 2012
Exxon Mobil has informed Iraq of its intention to sell its share in the West Qurna 1 oilfield, and Baghdad will respond to the decision by next Sunday, Iraqi oil officials said on Wednesday.
The remarks were the first official confirmation that Exxon is looking to quit West Qurna after signing exploration deals instead with autonomous Iraqi Kurdistan in the north, a move worsening tensions with Baghdad's central government.
"Exxon Mobil sent a letter to the South Oil Company expressing its wish to sell its stake in West Qurna 1 oilfield," Abdul-Mahdy al-Ameedi, director of Iraq's contracts directorate, told reporters.
Baghdad would reply to the letter by Sunday, another oil official said.
Iraq also plans to remove Turkey's state-owned oil company TPAO from its contract for exploration block 9 in the south of the country, al-Ameedi said without giving any reason for the decision.-Reuters
More Energy, Oil & Gas Stories
- Oil prices set for biggest weekly loss
- Egypt to issue smart cards to fuel stations
- Oil hits three-week low
- Yokogawa-Petrobras in wireless deal
- Technip wins Adma-Opco contract
- Brent weakens towards $102
- ASAR named legal advisor for Kuwait project
- BP to invest $2.85bn in Iraq's largest oilfield
- 200 firms gear up for Saudi Energy
- Siemens wins $266m jobs from Saudi Electricity