By OGJ editors
HOUSTON, Jan. 18 -- Iraq's Ministry of Oil has let contracts for integrated reservoir studies of the country's two largest oil fields—Kirkuk in the north and Rumaila in the south—to Exploration Consultants Ltd., Epsom, UK.
Shell Exploration Co. BV signed a letter of understanding with the ministry and was granted a technical support role in the study of supergiant Kirkuk oil field. BP will collaborate with the ministry on the analysis of supergiant Rumaila field. The fields account for the majority of Iraq's oil exports.
The purpose of the studies is to establish an understanding of the fields' potential and estimate the investment needed to optimize their production and ultimate recovery. The contracts do not include exploration and production rights.
The studies will be conducted outside Iraq and are expected to be completed in about a year.
Shell was a former 23.75% shareholder in Iraq Petroleum Co., which discovered Kirkuk oil field in 1927. Iraq Petroleum was nationalized in 1972.
Shell will also assist the Iraqi Ministry of Oil on a gas master plan.