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Bidding starts today for staggeringly huge oil fields
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Tuesday, June 30, 2009
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By Daily Crux Editor Brian Hunt:

More on the biggest oil story in the world...

Bidding for work on Iraq's oil fields is expected to start today. The numbers being thrown around are staggering. BP is rumored to be targeting the 17 billion barrel Rumaila field (which is far larger than Alaska's legendary Prudhoe Bay field).

A group of majors is gunning for the West Qurna Phase 1 field, which holds over 8 billion barrels. Keep in mind, a field of just 1 billion is considered enormous in the oil business. Iraq is full of fields like that... and the Iraqi oil boom is ON.

Read full article...

More on Iraqi oil:

Iraqi oil update: Russians join the mad dash

Big Oil going nuts over gigantic new crude oil supply

How to get in early on the greatest untapped oil field in the world

Topics: Energy | Commodities
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