Iraq West Qurna-1

Shell sells Iraq field stake to Itochu

BASRA, January 10, 2018 – Shell has sold its 20% stake in Iraq’s West Qurna-1 oilfield to Japanese company Itochu, international media reported on Wednesday.


The Iraqi Ministry of Oil has approved the sale, Ihsan Abdul Jabbar, the head of NOC Basra Oil, told Reuters. “We met with Itochu and discussed the required financial investments and operations at the field,” he added.

The field is operated by ExxonMobil with a 33% stake, with partners PetroChina (25%), Oil Exploration Company (12%) and Pertamina (10%).

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