Iraq reportedly is closing in on deals with companies including Shell (RDS.A) and Eni (E) to...

|By:, SA News Editor

Iraq reportedly is closing in on deals with companies including Shell (RDS.A) and Eni (E) to chop production targets at a number of oilfields to more realistic levels. The government is said to be in talks with a group led by Eni to cut production at the Zubai field to 1M bbl/day from 1.2M, and is nearing a deal with Shell to chop production at the Majnoon field to 1.2M bbl/day from 1.8M.