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Article: Iraq: Petrovietnam, Iraq in Talks to Revive Oil Deal.
- Article from:
- TendersInfo
- Article date:
- November 22, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
State-run Vietnamese oil company Petrovietnam is holding talks with the Iraqi Oil Ministry to revive a contract it signed with Iraq during former president Saddam Hussein's rule, a source close to the negotiations said Monday.
Petrovietnam originally signed a $300-million deal with Iraq in March 2002, to develop the Amara oil field in southern Iraq, with an estimated prewar capacity of 80,000 barrels a day. Vietnam couldn't implement the deal because of the then U.N. trade sanctions imposed on Iraq for its 1990 invasion of Kuwait. The sanctions were lifted in May 2003, but by that time Saddam's regime had been ousted following a U.S.-led ...