Thursday June 4, 05:22 PM
Reuters Summit-Total sees Iraq oil deals awarded this summer
PARIS, June 4 (Reuters) - French oil major Total expects Iraq to award stakes in oil fields open to bids this summer, a senior executive told the Reuters Energy Summit on Thursday.
'It is a matter of two or three months starting
from now,' Jean-Jacques Mosconi, head of strategy and planning at Total, said when asked when Baghdad would award contracts.
Iraqi officials have said Total and Chevron (NYSE: CVX - news) have been invited to bid jointly against Norway's StatoilHydro (Oslo: STL.OL - news) for a contract to develop the 6-billion barrel Nahr Bin Umar southern oilfield.
Iraq holds the world's third largest oil reserves and is seeking foreign investment in an effort to boost production and modernise infrastructure devastated by decades of war, sanctions and neglect. (Reporting by Marie Maitre, Muriel Boselli and Benjamin Mallet) Keywords: TOTAL SUMMIT/IRAQ
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