Halliburton makes an offer to purchase ExxonMobil’s stake in an oil field in Iraq

The Basra Oil Company said Halliburton has made an offer to buy ExxonMobil’s stake in the West Qurna 1 oil field.

The company said Iraq is reviewing Halliburton’s offer after completing all procedures with Exxon relating to the sale of its stake in West Qurna 1 field, according to Reuters news agency.

And last July, Iraqi Prime Minister Mustafa Al-Kazemi said he wanted another American company to replace Exxon Mobil when it left Iraq.

Exxon, which in 2019 appeared to be moving forward with a $ 53 billion project to increase Iraqi oil production, is looking to sell its 32.7% stake. in West Qurna 1, one of the largest oil fields in Iraq.

Al-Kazemi added at the time that ExxonMobil was considering leaving Iraq for reasons related to its internal administrative practices and decisions, and not because of the situation. in Iraq.

Read More About: Business News