| Pertamina and Sonangol weigh Iraq deal |
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| Saturday, 24 July 2010 15:13 | |||
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Jakarta - Indonesian producer
Pertamina could team up Sonangol as the Angolan state-run player pushes
ahead with development work at two Iraqi oilfields, a senior company
official said today. "We are evaluating the framework agreement for co-operation in Sonangol's assets in Iraq," Karen Agustiawan, Pertamina president director, told Reuters. She said Pertamina's participation in the fields would depend on production plans. Sonangol has said it wants to shed some of its 75% stakes in the Najmah and Qayara fields. The fields are among a series awarded to companies last year that could catapult Iraq into the top ranks of global oil powers, potentially rivalling Saudi Arabia with a production capacity of 12 million barrels per day within seven years. Qayara, with an estimated 800 million barrels, and Najmah, with 900 million, are in Nineveh province in Iraq's north, where Sunni Islamist insurgents including al Qaeda remain active. It remains one of the most dangerous areas of the country despite a sharp fall in overall violence elsewhere.
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