Iraq offers three oilfields to India on nomination basis

Union Petroleum and Natural Gas Minister Dr. M. Veerappa Moily on Thursday informed that Iraq has offered three discovered oilfields to India on nomination basis.

"Iraq, India's second-largest crude oil supplier after Saudi Arabia, offered to give state-owned Indian firms Kifil, West Kifil and Merjan discovered oil blocks in the Middle Furat oilfields on nomination basis," he told the media here.

Dr. Moily said the 'fields are discovered and work can immediately start'.

The Petroleum Minister, who returned from Baghdad after attending the Indo-Iraq Joint Commission Meeting, said Iraq also agreed to consider investment in the upcoming 15 million tonne a year oil refinery of Indian Oil Corp (IOC) at Paradip in Orissa.

"The Iraqi side also expressed interest in the proposal of IOC for participation in a refinery project in Iraq," Dr. Moily said.

"Possibilities for cooperation in the gas sector that could include import of LNG from Iraq, Indian participation in exploration as well as value addition through petrochemical projects and liquefaction terminals in Iraq were discussed," he added.