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Angola’s Sonangol exits Iraq

: Wednesday, February 26 - 2014 @ 05:00

Angolan state oil firm Sonangol has announced its decision to exit Iraq due to security problems in a conflict region where it has operated two fields, Reuters has reported. In 2009, Iraq awarded Sonangol the right to operate the Qayara and Najmah oilfields in the Nineveh province in Iraq’s northwest, where Sunni Islamist insurgents remain active. The decision was taken after the company was unable to develop the projects due to their location in a region of “much conflict,” a company official said.

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Wednesday, February 26- 2014 @ 5:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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