標題:Baghdad and Beijing oil deal confirmed BAGHDAD, September 2 – Iraq’s cabinet has approved a $3bn (€2bn, ￡1.6bn) oil service contract with China, the government of Prime Minister Nouri al-Maliki said on Monday, in a move that could signal the shape of anticipated future oil deals. “The cabinet has approved a service contract to develop and produce the Adhab oilfield between the [Iraqi] Northern Oil Company and a Chinese company, according to terms initialled by both sides,” Ali al-Dabbagh, the government spokesman, said in a statement. The Iraqi government recently announced renegotiated terms of an oil deal with the China National Petroleum Corporation, which was originally signed in 1997. The deal marks the first significant oil contract with a foreign company for Iraq, which boasts the world’s third-largest proven reserves, since the fall of Saddam Hussein. CNPC, the parent company of PetroChina and Asia’s biggest oil and gas company, has a head start as foreign firms line up to sign lucrative long-term oil deals with Iraq. The CNPC deal is sure to be watched closely by companies seeking to secure the most profitable terms they can in any contracts brokered with Iraq. Under a service contract, oil companies are paid a flat fee for their services, rather than gaining a share of the profits. Oil companies generally dislike service contracts because they do not allow for much upside potential. However, advocates of service agreements have argued that oil companies take on very little risk in Iraq and should therefore not be rewarded with more than a flat fee. The al-Ahdab field, 160km from Baghdad, is expected to produce about 100,000 barrels a day. Iraq produces 2.4m b/d of crude, of which it exports 1.9m. Iraq toughened its terms in renegotiating the CNPC deal, changing the contract to a set-fee service deal from the oil production sharing agreement signed under Saddam. Meanwhile, foreign companies bidding for longer-term contracts, which would involve billions of dollars of investment, are having to proceed without the security of clear hydrocarbons legislation. A draft law regulating the oil industry and the distribution of oil revenues has been stuck in parliament for more than a year, with little prospect of approval. c Reuters Limited http://www.ft.com/cms/s/0/8a79f860-7918-11dd-9d0c-000077b07658,dwp_uuid= 17aab8bc-6e47-11da-9544-0000779e2340.html 新聞來源: (需有正確連結) -- --

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