BASRA: 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 August 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.
Shell to hand over Iraq’s Majnoon oilfield by end of June 2018
Shell to hand over Iraq’s Majnoon oilfield by end of June 2018
