Sonangol splits, tired of Iraq terrorism
Angolan state firm took a run at southern Ninewa fields, but the area produced more terrorism than oil.
Well No. 74 burns in the Qayarah oil field following an April 5, 2013, attack on the field. (STAFF/Iraq Oil Report)
DUBAI - Sonangol is leaving Iraq, following four years working two heavy oil fields in a lawless swath of Ninewa province that was consistently plagued by armed groups.
"Sonangol is stepping out from Iraq," a senior official close to the development projects at the Qaiyarah and Najmah fields said Wednesday. Sonangol "didn't have intention to quit, but… the situation got worse.… [The project] requires massive investment and there are big risks there."
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