Eric Watkins
Senior Correspondent
LOS ANGELES, Apr. 6 -- Japan Petroleum Exploration Co. (Japex) is donating $15-20 million worth of seismic survey equipment to Iraq under a technical cooperation agreement originally made in 2005 and renewed last month for a year.
Iraqi Oil Ministry Undersecretary Ahmad al-Shammaa said the equipment, which is en route to Iraq, is intended to help the government update seismic data from several oil fields last studied in the 1970s and 80s.
The agreement calls for joint studies of development of an oil field near Baghdad, evaluation of an oil field and adjacent unexplored prospects in northeastern Iraq, and evaluation of exploration potential of Paleozoic reservoirs on a block in the Western Desert of Iraq and of deeper formations in the south.
Contact Eric Watkins at [email protected].
