Iraq may offer Total, Chevron terms different from Shell for Majnoon field development

Iraq may offer Chevron and Total terms to develop the Majnoon oilfield different from those it had given to Royal Dutch Shell, Iraqi Oil Minister Jabar al-Luaibi said on Saturday.

Iraq will develop the Majnoon oil field in southern Iraqi by its own means until it can find a foreign partner, Luaibi told reporters, adding that no company has been selected yet.

Luaibi said on Oct. 9 that Chevron and Total are among the companies that have expressed interest in developing Majnoon that Shell has said it wants to leave because of unfavourable changes to fiscal terms.