Iraq intends to deprive Total of share in Al Halfaya field
Azerbaijan, Baku, Aug. 2 / Trend A.Taghiyeva /
Iraq intends to deprive the French Total company of equity in the Al Halfaya field in response to a statement of the company on signing an agreement with the Kurdish autonomy to develop oil field, the director of contracts and licenses of the Iraqi Oil Ministry, Abdelmahdi Al-Amidi, told Al-Jazeera TV Channel on Thursday.
Al-Amidi said the Ministry previously warned international companies of their possible exclusion and deprivation of their stake in Iraqi oil fields if they cooperate with the Kurdish autonomy.
He also noted that the Total's stake in the al-Halfaya field was 18.75 percent.
On June 28, the Iraq's oil ministry said that a consortium led by French company Total, which also includes China Petro Chine and Malaysian Petronas, began oil production at Iraq's largest oil field of Al-Halfaya in the south-east of the country.
According to BP, Iraq's proven oil reserves as of late 2011 amounted to 143.1 billion barrels. The country ranks third in OPEC after Saudi Arabia and Iran. Oil production in Iraq was 2.798 million barrels of oil per day as of late 2011.
The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in south of the country. Some 80 per cent of oil produced in the country is exported.