Middle East Economic Survey


No 4


Baghdad Accelerates Oil Contract Signings

Baghdad has signed final contracts with a Shell-led consortium for its planned 1.75mn b/d increment at Majnoon and Malaysia’s Petronas for its 230,000 b/d Garraf project. The signing ceremonies, respectively on 17 and 18 January, mark the start of a planned spate of deal finalizations, which theoretically will lead to an increase in Iraqi oil production capacity of over 9.5mn b/d....