The Iraqi Ministry of Oil today awarded Shell and Petronas Carigali a contract for technical assistance in developing the Majnoon field, subject to ratification by the Iraqi authorities.

Shell will operate the Development and Production Service Contract
under the terms of the second licensing round for Iraqi oil and gas
contracts. As laid out by the Ministry of Oil those terms call for 25%
of the participating interests in all licences to be held by the Iraqi
State. Shell will hold a 45% share, with Petronas holding 30%.

The consortium bid a plateau production of 1.8 million barrels of oil
per day, up from a current level of approximately 45,000 barrels of oil
per day. Majnoon is one of the largest oil fields in the world, and
Shell and Petronas look forward to developing this world class resource
base with its partners.

Royal Dutch Shell plc is a leading global energy company whose
subsidiaries employ 102,000 people and operate in more than 100
countries and territories. Shell engages in the exploration and
production of oil and natural gas, the refining and marketing of
transportation fuels and other oil products, the production of
chemicals and the development of renewable energy.

Source: Shell

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