Business
Re Contract
Re Contract.
About this update from Petrel Resources Plc
[{"type":"text","content":"\n Petrel Resources PLC\n02 December 2005\n\n\n Petrel Signs Iraqi Contract\n\n\nFurther to the announcement made on 7th September 2005, Petrel is pleased to\nannounce that it has formally signed on 1st December 2005 the Subba & Luhais oil\nfield development services contract with the Iraq Ministry of Oil.\n\n\nThe project is to develop existing reserves to raise production from under\n50,000 barrels of oil daily to over 200,000 barrels of oil and 120 million cubic\nfeet of gas daily.\n\n\nPetrel has mobilized a development team: initial work is mainly engineering\ndesign. We plan to conduct site surveys in close cooperation with Iraqi\nMinistry of Oil officials early in 2006.\n\n\nThe Subba & Luhais oil field development services contract is for $197.4\nmillion.\n\n\nContacts:\n\n\nDavid Horgan + 353 87 292 3500\n\nJohn Teeling + 353 1 8332833\n\nJim Finn + 353 1 8332833\n\nBell Pottinger Corporate & Financial\n\nNick Lambert +44 (0) 7811 358 764\n\n\n\nRowan Dartingon\n\nBarrie Newton +44 (0) 1179 330011\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange VNRURAA \n ","length":1560,"tagName":"div"}]