October 13, 2017 / 11:14 AM / 10 months ago

Total interested in developing Iraq's Majnoon oil field

BAGHDAD, Oct 13 (Reuters) - Total is interested in developing the Majnoon oil field in southern Iraq which Shell is planning to exit, the Iraqi oil ministry said on Friday.

A senior Total executive communicated the French company’s interest in a meeting with Oil Minister Jabar al-Luaibi in Baghdad, the ministry said in a statement.

Total also expressed an interest in investing in the Nassiriya oil and gas project which provides for upstream and downstream development in the southern Iraqi region.

The project aims to increase output from the oilfields of Nassiriya, processing the fuel in refineries, and recovering the associated gas to supply power stations or for export.

Royal Dutch Shell said last month it had agreed with Iraq’s oil ministry to relinquish operations at the Majnoon field to the government after unfavourable changes to fiscal terms. (Reporting by Maher Chmaytelli; Editing by Mark Potter)

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