Industry

Mott MacDonald signed a lease agreement to move its South Iraq operations to Iraq Energy City a brand-new development built by Petronor in Basra.

Iraq has warned Royal Dutch Shell it needs to finalize a US$12 billion gas deal by next week or negotiations over the agreement would be cancelled, the countrys deputy oil minister said.

Italys ENI is speeding up work in Iraqs Zubair oilfield despite ageing facilities there and plans to drill about 68 new oil wells through next year to increase production, Iraqi officials said.

Vallourec agreed a deal to acquire Saudi Seamless Pipes Factory Company Limited (Zamil Pipes), the first processing company of seamless OCTG(1) in Saudi Arabia.