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Iraq may offer Total, Chevron terms different from Shell for Majnoon field development

Reuters - UK Focus

BAGHDAD, Oct (Shenzhen: 000069.SZ - news) 21 (Reuters) - Iraq may offer Chevron (Euronext: CHTEX.NX - news) and Total (LSE: 524773.L - news) terms to develop the Majnoon oilfield different from those it had given to Royal Dutch Shell (LSE: 0LN9.L - news) , Iraqi Oil Minister Jabar al-Luaibi said on Saturday (Shenzhen: 002291.SZ - news) .

Iraq will develop the Majnoon oil field in southern Iraqi by its own means until it can find a foreign partner, Luaibi told reporters, adding that no company has been selected yet.

Luaibi said on Oct. 9 that Chevron and Total are among the companies that have expressed interest in developing Majnoon that Shell (LSE: RDSB.L - news) has said it wants to leave because of unfavourable changes to fiscal terms. (Reporting by Ahmed Rasheed, writing by Maher Chmaytelli; Editing by Angus MacSwan)