$10bn Nassiriya decision to be made within month

Iraq's oil minister says the winning bidder will be announced soon

Iraq's oil minister, Dr Hussain al-Shahristani. (Getty Images)
Iraq's oil minister, Dr Hussain al-Shahristani. (Getty Images)

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Iraq’s oil minister has said that a massive US$10 billion engineering, procurement and construction contract for the super giant Nassiriya will be awarded to one of the two remaining bidders within the next month.

Dr Hussain al-Shahristani has told the two bidders, a consortium led by Japanese refiner Nippon Oil and the Italian supermajor Eni, that the decision would be made within a month.

"We are at the final stage of choosing the winning bid," Shahristani is quoted by Reuters as saying.

The Japanese consortium has been pursuing the contract the most vigorously and a Japanese newspaper even reported that it had been successful. The report proved to be premature.

Iraq’s oil ministry has high hopes for the Nassiriya. It is hoping that a yield of 150,000 barrels per day (bpd) will be achieved for the first two years after drilling with a target of 600,000 bpd after that. Eni has estimated that the field has the potential output of up to 1 million bpd.
 
 

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