Iraq revives Nassiriya Integrated Project with Gazprom talks

NASSIRIYA - Iraq is making a preliminary attempt to revive a combined upstream and refinery deal at the Nassiriya oil field, as the Cabinet gave approval on Feb. 7 for the Oil Ministry to negotiate on a single-bid basis with Russia’s Gazprom.

Over the past decade, the Oil Ministry has made several sporadic efforts to advance the so-called Nassiriya Integrated Project, and the latest initiative appears to be in the very early stages. The two sides have not defined the scope of the potential project let alone the commercial terms that would need to be agreed in order to sign a binding contract, according to three officials familiar with the matter.

“We have only held one meeting with Gazprom representatives, during which the key aspects of the integrated project for the Nassiriya field were discussed,” said one Oil Ministry official. “There is no economic model yet. These details will come later.”