Basra Oil Company (BOC) awarded contracts this week to Houston-based KBR and Chinese firm Anton Oilfield Services Group to provide technical expertise at the 220,000 b/d Majnoon field. The contracts are for two years, with the potential for a one-year extension.
Shell still operates the field, but the Anglo-Dutch major announced last September it would walk away from its 45% stake citing dissatisfaction with Iraq’s cumbersome technical service contract (TSC) effective 30 June (MEES, 22 September 2017). Malaysian state firm Petronas is also relinquishing its 30% stake end-June, leaving Iraqi state Misan Oil Company as the sole remaining legacy stakeholder with 25%. (CONTINUED - 749 WORDS)