British oil major BP PLC (BP, BP.LN) and partners China National Petroleum Corp. (CNPC.YY) and Iraq’s state-run South Oil Co. expect to issue tenders to drill between 80 and 100 wells in the immense Rumaila oil field this year and next year, a company executive said Monday.
Earlier this year, BP awarded three deals valued at least $500 million to drill 49 wells as part of the program to develop Iraq’s largest-producing oil field, which could become the world’s second-largest.
'For the next-year drilling contracts, we are expected to award them this year,' the official said on the sidelines of an oil symposium concluded in Baghdad on Monday.
Yeah, yeah, we know: BP is one of the only companies with the capacity to handle projects of this magnitude -- like Halliburton -- and the world depends on that oil, blah, blah. Just like Tony Blair is the only guy qualified to "advise" on Iraqi oil contracts making him tens of millions. It's the standard line given when the connected multinational corporations continuously pawn our soldiers to claim their profits.'
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