ExxonMobil-led consortium nets 'supergiant' Iraq oil field

[Orwellian_Ghost]

ExxonMobil-led consortium nets 'supergiant' Iraq oil field
Ahmed Rasheed and Muhanad Mohammed, Reuters

November 6, 2009

Group wins bid to develop west Qurna as Baghdad signs up slew of big contracts

BAGHDAD: An ExxonMobil-led consortium has beaten rival Russian, French and Chinese groups to bag initial rights to develop Iraq’s West Qurna field, the Oil Ministry said, adding momentum to Iraq’s bid to unlock its oil riches. With reserves of 8.7 billion barrels, West Qurna is among the prized Iraqi fields eyed by Western oil majors as they face flat or lower output at home and stiff competition from Chinese and Indian oil companies in bidding for oilfields elsewhere.

"The consortium led by ExxonMobil, which includes Shell, won the contract to develop West Qurna Phase One oilfield," Oil Ministry spokesman Asim Jihad said.

The initial deal was signed in Baghdad on Thursday but needs Cabinet approval before it can be finalized.

The 20-year contract is part of a raft of deals Iraq is close to formalizing in a bid to catapult itself to the world’s third largest oil producer after decades of war and economic decline.

There is no guarantee that Iraq’s next government – to be elected in January ­– will honor the deals, but it injects optimism into prospects for Iraq’s battered oil sector and a second oil bid-round in December, after a lacklustre June auction.

...

http://www.dailystar.com.lb/article.asp?edition_id=10&c...

[PuraVidaDreamin]

1. After all- this is what our invasion on Iraq WAS all about

and once they are done brutalizing and decimating the middle class will
that satisfy their hunger?

[bullimiami]

2. yup mission truly accomplished.

[Sal Minella]

3. Hot Damn!!!

So all those dead U.S. soldiers and Iraqi kids did NOT die in vain!

Whew. I can stop worrying about THAT now.
And I'm sure Snarly Dick is so happy that "the prize" is now being divvied up among his homies.

[Orwellian_Ghost]

4. Democracy=

Oil contracts. Simple math that we forgot.

[Mari333]

5. and THAT, folks, is what all the soldiers sent there died for

and why millions of Iraqis were murdered.
and why we are in Afghanistan.
$$$$

[ConcernedCanuk]

6. Just finished reading "OIL" by Jonathan Black from 1975

.
.
.

Although fiction, it does relate some history going back a century over the squabble to gain access to the ME's oil -

and interestingly enough, Iraq was high on the "wanted" list back then

OIL by Jonathan Black

It was a REALLY interesting book.

and yeah

NOONE cannot dissuade me from my belief that the USA is in Iraq an Afghanistan for any other reason than OIL!

Mission accomplished indeed

(sigh)

[Nothing Without Hope]

7. Mission accomplished. Afghan oil pipeline also required by the money people.

Oh wait, we ARE still in Afghanistan...

[maryf]

8. K&Rnt