"Major infrastructure constraints" are one of the key factors at play for foreign companies going through the licensing rounds to develop oil fields in Iraq, according to Jonathan Wood, global issues analyst specialising in oil and gas at risk consultancy Control Risks.
A joint venture (JV) between Royal Dutch Shell and Malaysian oil and gas company Petronas was successful in its bid to develop a 12 billion barrel oil field in Iraq. Russian oil company Lukoil won the rights to develop a 12.9
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