The news source reported that the Iraqi oil ministry is in talks with ExxonMobil, Royal Dutch Shell, Total and BP, who all operated in partnership with the Iraq Petroleum Company before the nationalization of the country’s oil industry by the Saddam Hussein regime.
The news source reported that US-based energy major Chevron and a number of other smaller companies are also in talks to begin operations in the oil rich country.
Subsequently, the Iraqi government will announce the deals on June 30, 2008. The deals are expected to be awarded on a no-bid basis. These deals are reportedly extensions of current agreements in which the companies are consulting with the Iraqi oil ministry, as well as providing free advice and training.
The New York Times reported that a total of 46 companies have memorandums of understanding to provide assistance to Iraq, but were not granted any contracts so far. The deals for the four companies will be service contracts, in which they are paid for their work instead of being offered a license to access Iraqi oil reserves.
