South Korea's Kogas has announced that it will invest $6.5bn in the development of the Zubair oilfield in Iraq, as part of a consortium planning to sign a final deal on the four billion barrel oilfield tomorrow, Reuters has reported. The oilfield had a production capacity of 195,000 barrels of oil per day, which was expected to increase to 1.2 million barrels per day, Kogas said. Led by Italian oil major Eni, the consortium includes Kogas and US-based Occidental Petroleum.
You might also like...
TotalEnergies to acquire remaining 50% SapuraOMV stake
26 April 2024
Hyundai E&C breaks ground on Jafurah gas project
26 April 2024
Abu Dhabi signs air taxi deals
26 April 2024
Spanish developer to invest in Saudi housing
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.