Shell to hand over Iraq’s Majnoon oilfield by end June 2018

Oil major Royal Dutch Shell is to quit Majnoon, a major oilfield near Basra, which started production in 2014. (Reuters)

Oil major Royal Dutch Shell agreed to exit the Majnoon oilfield and hand over its operation to the state-run Basra Oil Co. by the end of June 2018, two oil officials close to the deal said on Wednesday.

A letter signed by Iraqi oil minister Jabar Luaibi, dated Aug. 23 and seen by Reuters, gave approval for the Anglo-Dutch company to quit Majnoon, a major oilfield near Basra which started production in 2014.

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Last Update: Wednesday, 20 May 2020 KSA 09:50 - GMT 06:50
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