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*****Shell southern gas contract delayed further*****
22/08/2011 16:22
Baghdad, Aug. 22 (AKnews) - *****The Energy Commission announced today that it has decided to postpone the meeting its discuss the Shell gas contract until next week, *****further delaying the heavily overdue signing.*****
The Energy Commission, headed by Deputy Prime Minister Hussein al-Shahristani, announced last Wednesday that today it would discuss the contract to develop and exploit the gas from Iraq’s southern oil fields.
The media director of the energy committee Faisal Abdullah told AKnews: "The Energy Commission headed by Deputy Prime Minister Hussein al-Shahristani decided to postpone the meeting with Shell until next week in order for it to be completely studied and then it will submit the recommendations to the cabinet.
On July 12 Iraq singed the initial contract with Shell to develop Basra’s gas fields after originally signalling intent back in 2008. It is now just awaiting approval from the cabinet.
The realization of the contract will see Shell exploit the gas from the giant oil fields in Basra. Rumaila, Zubair and West Qurna can produce 1.05 billion cubic feet of gas per day, but only 450 million cubic feet is currently exploited per day, with the rest flared off into the desert sky.
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