Japan’s Inpex is considering divesting its 40% stake in Iraq’s Lukoil-led Eridu discovery. Confirming previous MEES reports (MEES, 7 October), CEO Takayudi Ueda told reporters on the sidelines of this week’s Adipec conference in Abu Dhabi that divestment is “one option” being considered.
Eridu, on Block 10 in Iraq’s southern Dhi Qar and Muthanna provinces, is one of the country’s largest recent discoveries. Mr Ueda says that “we’re still [interested] in implementing the project,” but admits that Eridu has been a “headache” and that “the project has not been progressing well.” “We’re discussing with the government how to proceed,” he adds. (CONTINUED - 906 WORDS)