Basra uni. holds symposium on Shell agreement

BASRA / IraqiNews.com: The Faculty of Science at Basra University on Thursday organized a symposium in which a thorough study of the agreement between Shell Oil Company and the Iraqi Ministry of Oil was presented. “Under the contract signed between the company and the ministry, the Basra Natural Gas Company will be established,” an oil expert and an advisor in the ministry, Asri Saleh Moussa, said. “This is a partnership contract, not an investment agreement,” Moussa added. On September 22, the oil ministry signed a 25-year contract with Shell Oil Company, under which the latter will hold 49 percent of the venture and the Iraqi South Gas Co. 51 percent, Hayali added. Shell Oil Company is the United States-based affiliate of Royal Dutch Shell, a multinational oil company (“oil major”) of Anglo Dutch origins, which is amongst the largest oil companies in the world. SS (P) 1