Pertamina has announced that it will join ExxonMobil and PetroChina in a US$50bn project to develop Iraq’s West Qurna-1 oilfield
According to sources, PetroChina is expected to take 25 per cent and Indonesia’s state-owned Pertamina will own 10 per cent.
ExxonMobil would remain operator of the field though its share could be cut to 25 per cent. Royal Dutch Shell would retain its existing 15 per cent share, company sources said.
PetroChina sources have confirmed that it is in talks for a stake in West Qurna-1.
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