Shell completes sale of its stake in Iraq’s West Qurna 1 oil field

Shell Refining Company

Shell EP Middle East Holdings B.V. has completed the sale of the entire share capital of Shell Iraq B.V (SIBV), which held its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of ITOCHU Corporation. The purchaser has also assumed debt of $144 million as part of the transaction.

The West Qurna 1 venture will continue to be operated by ExxonMobil. Shell’s other businesses in the country are not affected by this divestment.


Click on the Next Button to Continue Reading
Obineme Ndubuisi Micheal, Technical | Creative and Senior News Writer, covering the entire value chain of the Energy Industry. Our publication covers the entire value chain of Renewable/Energy, Power, Mining, To get in touch, email:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.