MISSION ACCOMPLISHED: Big Oil Heading Back to Iraq.

[tekisui]

WASHINGTON (AFP) — Global oil giants are preparing to return to Iraq after being chased out of the oil-rich country 36 years ago by the late dictator Saddam Hussein, reports said Thursday.

Shell, BP and ExxonMobil are all eagerly lining up to tap into the resources of the Middle Eastern nation with a deal due to be signed on June 30, the New York Times said quoting oil companies and a US diplomat.

"The deals ... will lay the foundation for the first commercial work for the major companies in Iraq since the American invasion, and open a new and potentially lucrative country for their operations," the Times said.

Iraqi Oil Minister Hussein Shahristani told the Middle East Economic Survey earlier this month that the government was ready to sign Technical Support Agreements with foreign oil companies by the end of June to add an eventual 500,000 barrels per day (bpd) in output capacity.

MEES said five consortia were in talks with the Iraqi government for the two-year contracts.

The agreements cover Kirkuk field (Shell), Rumaila (BP), Al-Zubair (ExxonMobil), West Qurna Phase I (Chevron and Total), Missan province development (Shell and BHP Billiton) and the Subba and Luhais fields (Anadarko, Vitol and the UAE's Dome), MEES said.

ExxonMobil, Shell, Total and BP or their predecessors all had stakes in the Iraq Petroleum Company, which held a monopoly on the country's oil resources from 1925 to 1961.

In April, the French company Total admitted there were ongoing discussions with Chevron on a deal to develop West Qurna.

"I can confirm that Chevron and Total are in joint discussions with their ministry of oil regarding a technical services contract," a Chevron spokesman said Thursday. "The objective would be to increase output."

ExxonMobil for its part has already voiced an interest in participating in the development of Iraq's oil resources.

"If the Iraqi government decides it wants international oil companies to partner with them in developing their resources, ExxonMobil would be interested in participating," the company said.

link: http://afp.google.com/article/ALeqM5ia8Nq8bLbVxqs3UrRQbRareSMn6Q

[rocktivity]

1. Mission Accomplished indeed

Now Georgie can pull out, claim that he won, leaving Obama nothing to run on--except, of course, charging him war crimes.

:headbang:
rocknation

[tekisui]

2. Our troops will be the ones stuck there to protect the Oil Cos.

[ashling]

3. We have found the WMD

... after being chased out of the oil-rich country 36 years ago by the late dictator Saddam Hussein

they are named nationalized oil

[tekisui]

4. The true reason for the Illegal Invasion and Occupation.

[crickets]

5. Exactly. -nt