The chief executive of Geneva-based oil trader Vitol has told Reuters that the company plans to bid for for Iraq’s oil and gas fields as a member of a consortium.
“These are world class fields…hopefully the situation in Iraq will improve and the international oil companies will be able to get in to help develop these oilfields,” Ian Taylor said in a interview.
Service contracts have been offered for some of Iraq’s biggest oil and gas fields and Vitol intends to bid for a role to develop the country’s reserves.
This isn’t the first time Vitol have had involvement ith Iraq. They bid alongside Anadarko and Dome Petroleum for a short term oil service contract, but the bid was halted by the Iraqi government after it was decided that longer term deals were a better option.
Â
