Iraqi Official: Shell to Quit Majnoon by June

摘要

Royal Dutch Shell has agreed with the Iraqi oil ministry that it will exit the giant Majnoon field by June next year, with the state-run Basrah Oil Co. (BOC) to take over operatorship of the 12.6 billion bbl field until a replacement is found. The agreement this week, which was confirmed by a BOC official but has yet to be made public, follows the European major’s announcement in September that the ministry had consented to Shell relinquishing its 45% operating interest in Majnoon, “with the timeline to be agreed in due course."