April 4, 2018 / 11:07 AM / 17 days ago

Iraq ministry, Exxon still in talks on boosting oil output

BAGHDAD (Reuters) - Iraq is still in discussion with Exxon Mobil over a multi-billion-dollar project to boost output from several southern oilfields, the Iraqi oil ministry said on Wednesday.

A logo of Exxon Mobil is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson

The project was discussed again in Baghdad by Oil Minister Jabar al-Luaibi and a senior executive from Exxon Mobil in charge of extractive projects, Brad Carson, the ministry said in a statement.

The statement cited Carson as saying Exxon hopes to reach a final agreement over the project.

The “Integrated South Project” consists of building oilpipelines, storage facilities and a seawater supply project to inject water from the Gulf into the Luhais, Nassiriya,Tuba, Nahr Bin Umar and Artawi oilfields to boost oil recovery.

Reporting by Maher Chmaytelli; editing by Jason Neely

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