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ExxonMobil Submits New Proposal to Develop Iraq's Zubair Oil Field

Iraq's Oil Ministry is considering a revised offer by the giant U.S. petroleum company ExxonMobil to develop the Zubair oil field [south of the southern city of Basra and close to the Kuwaiti border.]

The ministry is also considering a revised offer by the U.S. company Chevron and the French company Total to develop the oil field in west Qurna [at the point of confluence of the Tigris and Euphrates rivers].

Both fields have reserves in the billions of barrels of crude.

Source: khabaar.com, Iraq, October 10, 2009

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