Statoil Seeks to Sell West Qurna-2 Stake in Iraq, MEES Reports
The company may use the negotiations to improve the terms of the West Qurna-2 contract and decide against pulling out, according to MEES. A Statoil spokesman refused to confirm or deny the assertion, MEES said.
Foreign companies operating in Iraq have encountered difficult working conditions, excessive bureaucracy and unattractive rates of return, it said. It would be the first re- sale of energy assets awarded to international companies during Iraq’s 2009 auction round, the publication reported.
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