BAGHDAD
(Dow Jones)--A consortium comprising Royal Dutch Shell (RDSB) and
Malaysia's Petronas has been awarded
Iraq's Majnoon oil field, Iraqi Oil Minister Hussein al-Shahristani said Friday. A consortium of France's Total SA (TOT) and China National Petroleum Corp. had also submitted an offer. Shell and Petronas' offer of a remuneration fee was $1.39 a barrel, while Total/CNPC offered $1.75 a barrel. Also, the Shell consortium suggested a production plateau of 1.8 million barrels a day, while the Total consortium suggested a 1.405 million barrel production target. The Majnoon field, located in southern
Iraq, holds some 12.8 billion barrels of oil reserves.