Iraq in talks with US energy companies to find buyers for Exxon’s stake in West Qurna 1

Iraq is in talks with US energy companies to find potential buyers for ExxonMobil’s 32.7% stake in West Qurna 1, the state-owned Iraqi News Agency reported citing an April 15 oil ministry statement, as OPEC’s second largest producer courts new stakeholders in one of the world’s largest oil fields with estimated recoverable reserves of over 20 billion barrels. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The ministry didn’t disclose any more details about the talks. ExxonMobil couldn’t be immediately reached for comment. Other partners in West Qurna 1 are PetroChina (32.7%), ITOCHU Corp. (19.6%), Indonesia’s Pertamina (10%), and Iraq’s Oil Exploration Co. (5%). The Iraq ministry’s relationship with Exxon was strained in 2019 […]

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