Published: November 15, 2011
BAGHDAD Iraqs cabinet approved a multibillion-dollar contract on Tuesday for Royal Dutch Shell, the Anglo-Dutch energy giant, to collect the vast amount of natural gas emitted, and currently burned off, as oil is pumped to the surface at three major oil fields in the south.
The project, which will eventually greatly reduce Iraqs greenhouse gas emissions, is intended to bring modern methods of managing oil fields to an industry frozen in time by sanctions and the war. In addition, it strengthens Shells foothold at a time when international petroleum companies are vying for advantage in one of the few regions of the world where easily accessible, on-land fields are opening to new investment.