New Dhi Qar Oil Company close to reality

VIENNA - The Oil Ministry will soon formally request to capitalize and transfer assets to a new state oil company to manage the growing crude output of Dhi Qar province.

The Dhi Qar Oil Company will be spun off from the South Oil Company (SOC) and will manage fields such as the 4.4 billion barrel Nassiriya oil field and the 860 million barrel Garraf oil field, which is operated by Malaysian oil firm Petronas.