Iraq ends talks with French oil company

BAGHDAD – France’s Total said Thursday that Iraq has ended negotiations to develop an oil field in southern Iraq, one of six reported cancellations of no-bid contracts with Western oil companies

The French oil firm and U.S.-based Chevron were jointly negotiating a technical support agreement for the development of West Qurna oil field near the southern city of Basra.

West Qurna field has reserves estimated at 15 to 21 billion barrels, according to the Iraqi Oil Ministry. The ministry has intended to add 100,000 barrels a day to the field’s current capacity of about 180,000 barrels a day. Its estimated production capacity before the U.S.-led invasion of Iraq in 2003 was 250,000 barrels a day, ministry figures show.

The Iraqi Oil Ministry was also negotiating with Royal Dutch Shell PLC, BP PLC and ExxonMobil Corp. and some smaller companies to increase crude production in at least five other fields under the same agreement.

AP