Shell Studies Possible Oil Projects in Iraq, CEO Says

[sabra]

Source: Bloomberg

Nov. 24 (Bloomberg) -- Royal Dutch Shell Plc, Europe's largest oil company, is examining possible oilfield projects in Iraq as the nation prepares to issue exploration permits next year, Chief Executive Officer Jeroen van der Veer said today.

Shell may bid for Iraqi fields in the first half of 2009, van der Veer told reporters at a conference in London. Iraq expects to award contracts by June in its first oil-licensing round since the U.S. invasion in 2003, Oil Minister Hussain al- Shahristani said last month.

``They've just issued the rules on how to bid,'' van der Veer said. ``It's quite complicated; we will study that and of course then we'll make up our mind on what we are going to do.''

Iraq, holder of the world's third-biggest crude reserves, pre-qualified 41 companies including Exxon Mobil Corp., Shell and BP Plc to participate in the licensing round. The Hague-based Shell also plans to invest ``north of'' $1 billion on gas- capturing and marketing projects in Iraq, van der Veer said.

Read more: http://www.bloomberg.com/apps/news?pid=20601207&sid=av8p.fV7hUFw

[IDemo]

1. Mission.......

[underpants]

2. These are in southern Iraq which really means Iran

so we invaded a country and Iran reaps the benefits...and the Iraqi people will get screwed no matter what