Iraq has asked Japan’s Nippon Oil Corp. (5001.TO) to submit a revised offer to develop the Nassiriyah oil field in southern Iraq, a step seen as the last before signing an $8 billion to $10 billion contract.
"We have asked Nippon to submit a revised offer for Nassiriyah oil field,” Shahristani told reporters shortly before an OPEC policy meeting in Vienna. “We are waiting for them to come to Baghdad next week to submit the new offer.”
Italy’s Eni SpA (E) and Spain's Repsol YPF SA (REP) have submitted bids to develop the field. Iraqi oil officials have said that Nippon has a better chance than the other two to win the contract.
Iraq is aiming to sign an engineering, procurement and construction, or EPC, contract to develop the Nassiriyah field in Dhi Qar governorate. The field isn't included in the government's two bidding rounds.