Shell to Hand Over 45% Interest in Iraq's Majnoon Oil Field
June 27 2018 - 10:06AM
Dow Jones News
By Oliver Griffin
Royal Dutch Shell PLC (RDSB.LN) said Wednesday that its
subsidiary, Shell Iraq Petroleum Development BV, will hand over its
45% interest in Iraq's Majnoon oil field to the Basra Oil Company
on June 30.
In a statement to Dow Jones, Shell said it remains committed to
doing business in Iraq and will now focus its efforts on growing
the Basrah Gas Company and on advancing the Nebras petrochemical
project.
Majnoon is one of the largest oil fields in the world, estimated
to hold over 12 billion barrels of oil.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
June 27, 2018 09:51 ET (13:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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