http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article3315476.eceBP is in talks with the Iraqi Government about a plan to boost oil production at the huge Rumaila field on the border with Kuwait.
Tony Hayward, chief executive, said that he had met Hussain al-Shahristani, the Iraqi Oil Minister, “in the last few weeks” to discuss opportunities in the country.
Among other potential projects in Iraq, BP's interest is understood to include the Rumaila field, one of Iraq's largest, which is believed to contain about 18billion barrels of oil, according to figures from Wood Mackenzie.
BP undertook a study of the field for the Iraqi Government two years ago. It already has a small Iraq team based in the Middle East and is one of a number of big oil companies discussing agreements designed to increase rapidly the country's output to 2.6million barrels per day by the end of this year.
These effectively would be service contracts to provide training, expertise and equipment, for which the companies would be paid in oil.
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