View Full Version : Petronas confirms Exit from Majnoon Oilfield

Investors Iraq News
01-10-2018, 01:04 AM
By John Lee.
Malaysia’s Petronas (http://www.iraq-businessnews.com/list-of-international-oil-companies-in-iraq/international-oil-companies-petronas/)has reportedly confirmed that it will exit from Iraq’s Majnoon oil field (http://www.iraq-businessnews.com/list-of-oil-and-gas-fields-in-iraq/oil-and-gas-fields-majnoon/) along with joint stakeholder Shell (http://www.iraq-businessnews.com/list-of-international-oil-companies-in-iraq/international-oil-companies-shell/).
A spokeswoman for Petronas told The National:
“Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with Shell on the handover of the field to the Basra Oil Company [BOC].
“An announcement will be made once details of the handover is finalised.“
Petronas holds a 30-percent stake in the field, with Shell having 45 percent.
On 21st December, Iraq’s Ministry of Oil approved a set of measures relating to the development of the super giant field once Shell relingushes it back to Iraq; IBN Expert Blogger Ahmed Mousa Jiyad described the decision (http://www.iraq-businessnews.com/2017/12/26/majnoon-development-plan-important-move-in-the-right-direction/) as “an important move in the right direction“.
Petronas retains interests in the Badra (http://www.iraq-businessnews.com/list-of-oil-and-gas-fields-in-iraq/oil-and-gas-fields-badra/), Garraf (http://www.iraq-businessnews.com/list-of-oil-and-gas-fields-in-iraq/oil-and-gas-fields-garraf/), Halfaya (http://www.iraq-businessnews.com/list-of-oil-and-gas-fields-in-iraq/oil-and-gas-fields-halfaya/) oilfields.
(Source: The National)

Source: Iraq-BusinessNews.com. (http://www.iraq-businessnews.com/2018/01/10/petronas-confirms-exit-from-majnoon-oilfield/)

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