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Esso truck card news: Exxon signs West Qurna 1 deal

25 January, 10
Esso truck card customers have discovered that its parent company ExxonMobil has signed an agreement with Iraq's oil ministry to develop the West Qurna 1 field.

The project is a joint venture between Exxon - which is the operator of the field with a 60 per cent interest - along with Royal Dutch Shell and Iraq's state-owned Oil Exploration Company, which hold 15 per cent and 25 per cent shares respectively.

President of ExxonMobil upstream ventures Rob Franklin welcomed the agreement and said that it would not stop the company from holding discussions with the oil ministry over further opportunities in Iraq.

"We are pleased to sign the agreement … and look forward to working with the government of Iraq and the South Oil Company on implementation of this important project," Mr Franklin added.

Abdul Mahdy al-Ameedi, head of the oil ministry's Petroleum Contracts and Licensing Directorate, told Dow Jones reporters last week that Exxon had accepted a number of amendments to the deal which had been made by the Iraqi government.

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Posted by Matt HaskinsADNFCR-2675-ID-19576716-ADNFCR

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Esso truck card news: Exxon signs West Qurna 1 deal