Middle East Economic Survey
Eni Clinches Zubair Development Contract, As IOCs Relent On Baghdads Terms
Iraq last week awarded the contract to develop the 4bn barrel Zubair oil field to a multinational consortium led by Eni, after it agreed to Baghdads maximum $2/B remuneration fee for incremental production. The consortium plans to raise the fields current output of 195,000 b/d by nearly 1mn b/d over the next seven years, at an estimated cost of $10bn. Eni will have a...