FACTBOX-Iraqi oilfield deals in the pipeline
Nov 5 (Reuters) - An Exxon Mobil-led consortium has beaten rival Russian, French and Chinese groups to bag initial rights to develop Iraq's West Qurna field, adding momentum to Iraq's efforts to unlock its oil riches. [ID:nL5388274]
The raft of deals being negotiated by Iraq with foreign oil companies have the ability to turn it into the world's number three producer after Russia and Saudi Arabia.
Here are facts on deals in the pipeline:
* RUMAILA
BP and CNPC won the contract to boost output from the Rumaila field, Iraq's largest, in June. Rumaila has reserves of nearly 17 billion barrels, which alone is more than all the oil held by OPEC member Algeria. [ID:nL3558520]
Rumaila is the workhorse of Iraq's oil industry, providing just over 1 million bpd of the country's 2.5 million bpd output.
BP has pledged to boost output to 2.85 million bpd.
* ZUBAIR
Eni, Occidental and KOGAS have won a contract to develop the Zubair oilfield. Zubair has oil reserves of 4 billion barrels. Eni has pledged to boost output there to 1.125 million bpd from 195,000 bpd. [ID:nL2536702]
* WEST QURNA
Exxon Mobil's consortium, which includes Royal Dutch Shell, beat out LUKOIL and ConocoPhillips, and two other groups led by France's Total and CNPC to win the initial rights to develop Phase One of the oilfield.
Phase One has reserves of about 8.7 billion barrels, a little less than all the oil held by OPEC member Angola.
The winning consortium aims to boost output to 2.325 million bpd from less than 500,000 bpd at present. Continued...



