FACTBOX-Iraqi oil and gas deals so far

Oct 28 (BestGrowthStock) – Following are Iraqi oil and gas deals in
order of reserves size signed after auctions this year and last


Britain’s BP Plc (BP.L: ) and China’s CNPC signed the first
major post-U.S. invasion oil deal last year for the supergiant
Rumaila field, with estimated reserves of 17 billion barrels. BP
said it would invest around $15 billion. BP’s stake is 38
percent and partner CNPC’s 37 percent. Iraq holds 25 percent.


Russian energy giant Lukoil (LKOH.MM: ) and Norway’s Statoil
(STL.OL: ) sealed a deal for the supergiant, 12.9-billion-barrel
oilfield in Iraq’s south on Jan 31. Iraq holds a 25 percent
stake, Lukoil 56.25 percent and Statoil 18.75 percent. Lukoil
put total investment at more than $30 billion.


The massive 12.6-billion-barrel Majnoon oilfield was won
by Royal Dutch Shell (RDSa.L: ) and Malaysia’s Petronas [PETR.UL].
They signed the final pact on Jan 17. Shell has a 45 percent
share, Petronas 30 percent and Iraq 25 percent. Shell officials
have said the firms would invest “tens of billions” of dollars.


West Qurna Phase One was sold to Exxon Mobil (XOM.N: ) and
Shell, who signed the deal on Jan 25. The field has reserves of
8.7 billion barrels. Exxon has a 60 percent interest in the
consortium, with Iraq holding 25 percent and Shell the rest.


China’s CNPC, France’s Total (TOTF.PA: ) and Petronas clinched
the final contract for Halfaya on Jan 27. Total holds an 18.75
percent interest in the consortium, CNPC 37.5 percent, Petronas
18.75 percent, and Iraq 25 percent. Halfaya has estimated
reserves of 4.1 billion barrels of oil.


Italy’s Eni (ENI.MI: ) signed a contract with Iraq on Jan 22
for the 4-billion-barrel Zubair oilfield. Eni has a 32.81
percent stake in the field, with partner U.S.-based Occidental
Petroleum Corp (OXY.N: ) holding 23.44 percent, South Korea’s
KOGAS (036460.KS: ) 18.75 percent and Iraq’s Missan Oil Company
the remaining 25 percent. The consortium plans to invest more
than $20 billion.


Iraq signed a deal on May 17 with China’s CNOOC (0883.HK: )
and state-run Turkiye Petrolleri (TPAO) for a service contract
for the 2.5-billion barrel, three-oilfield Maysan complex. The
fields were offered in the first auction of oilfield contracts
but not awarded. CNOOC said it will hold a 63.75 percent stake
in the venture while TPAO holds 11.25 percent.


CNPC started work in March on the al-Ahdab oilfield in
southeastern Wasit province after renegotiating an old
development deal that dated back to Saddam Hussein’s government.
The field has estimated reserves of 1 billion barrels.


A smaller oilfield with 900 million in reserves, Gharaf was
won by Petronas and the Japan Petroleum Exploration Co (Japex)
(1662.T: ) and a deal was signed on Jan 18. Petronas will hold 45
percent, Japex 40 percent and Iraq 25 percent. The consortium
expects to invest $7-$8 billion.


The Qayara and Najmah oilfields were won by Angolan state
firm Sonangol, which signed the deal on Jan 26 and has a 75
percent stake in the venture. Qayara has reserves of 800 million
barrels and Najmah 900 million. The firm has said it will invest
$2 billion in Qayara.

Iraqi gas deals:


Gazprom Neft (SIBN.MM: ), the oil arm of Russia’s Gazprom
(GAZP.MM: ), signed a deal for the Badrah field on Jan 28 with
partners TPAO, KOGAS and Petronas. The consortium is to invest
$3.52 billion. Gazprom Neft holds 30 percent, KOGAS 22.5
percent, Petronas 15 percent, TPAO 7.5 percent and Iraq 25


South Korea’s KOGAS and Kazakhstan’s KazMunaiGas Exploration
& Production (KMGq.L: ) won a deal to develop the Akkas gas field
on Oct 20. Total investment will be about $4.4 billion, South
Korea’s Ministry of Knowledge Economy said.


Kuwait Energy and Turkey’s TPAO won the bid for Siba gas
field in Iraq’s relatively peaceful southern oil hub of Basra on
Oct 20. TPAO said the group would invest $1 billion.


TPAO, Kuwait Energy and Kogas won the rights to mine the
Mansuriyah gas field on Oct 21. Investment in the field is
expected to be $2.5 billion, TPAO said.
(Compiled by Isabel Coles; editing by James Jukwey)

FACTBOX-Iraqi oil and gas deals so far