State-owned Basra Oil Company (BOC) has been approved by the Council of Ministers to assume responsibility for managing petroleum operations at the West Qurna 2 oilfield, in line with the provisions of the field's service and development contract.According to a statement from the Prime Minister's Office, the Cabinet decision also authorises the relevant authorities to obtain the required formal approvals to finance petroleum operations through the Majnoon field account. It says this will be achieved by strengthening the account via the sale of crude oil cargoes marketed by the State Oil Marketing Organization (SOMO).In early December, Iraq's Ministry of Oil issued exclusive invitations to several major US oil companies to submit bids to take over the field, after Russia's Lukoil  was hit with US sanctions. Companies including Chevron were understood to be considering investment. (ICE AMMAN)

Fonte notizia: Stampa Locale