Middle East Economic Survey


No 42


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...