| 2008: Western firms have an open appetite to Iraqi market |
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March 27, 2008 Roula Khalaf and Steve Negus, both wrote an article published by the newspaper Financial Times under the title "taboo fields: oil groups compete to win the prize of Iraqi enormous reserves," in which they said that the company Royal Dutch Shell is working quietly and in secret with the Iraqi Oil Ministry over the last two years advising it on how to increase production in two fields of oil, under an agreement signed after the invasion in 2003; however, non of the officials of company, which is the largest oil group in Europe, put a foot step in this troubled and oil-filled country. There were only monthly meetings held face-to-face with the Iraqi Oil Ministry in the Jordanian capital of Amman, and the communication is through weekly video link. The two authors said that Shell Company is negotiating in the meantime with the Iraqi Oil Ministry on a technical support agreement whereby it receives compensations for its assistance in modernizing the production of producing fields. Shell will again form a panel works from outside Iraq to provide assistance, bring new equipments to Iraq and train Iraqis to use these equipments. The authors draw out that Shell is one of several international oil companies, including B.B and the two American groups Exxon Mobil and Chevron, are trying to penetrate the Iraqi oil industry using the remote control devise. It is noted that after segments of the international oil industry is threatened with nationalization and the majority of the Middle East is closed to foreign ownership of the reserves, entering Iraq which has the third largest oil reserves in the world has become a great prize that international oil companies have been passionately looking forward to for a long time Source: Iraq directory |