Iraqi Deputy PM for Energy Husain al-Shahristani and Shell CEO Peter Voser met in Baghdad on 12 November and discussed the final steps needed to establish a giant petrochemicals project in Basra, according to Iraq’s NINA news agency. The report cited Dr Shahristani’s office as saying there was a need to finalize the deal as soon as possible so an initial agreement could be signed before the end of the year. The Majnoun oil field development and the Basra gas recovery program were also reviewed (see p2).

Baghdad values the development at $11bn and is looking to sign a heads of agreement soon, the Wall Street Journal says. (CONTINUED - 294 WORDS)