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Iraq president invites Total to work oil fields

Iraq president invites Total to work oil fields

Write: Bronnen [2011-05-20]
PARIS, Nov 18 - Iraq's President Jalal Talabani struck an optimistic note on French oil company Total's (TOTF.PA) chance of winning an oil contract Wednesday, saying that figures aren't everything in winning a contract.

"The figures don't give a privilege to one company." Talabani said at a meeting at the French employers union MEDEF. "You present the best offer... . We are good friends and I'll say it again. You are very welcome to work in the country of Iraq."

Talabani met with French president Nicolas Sarkozy on Tuesday and had a meeting with Total executives on Wednesday morning. At the MEDEF meeting he fielded questions from executives at French companies Areva (CEPFi.PA), GDF Suez (GSZ.PA) and Alstom (ALSO.PA), all of whom are working in Iraq or hoping to.

Total, in particular, wants to tie up its first oil contract with the post-war Iraqi government and said it will submit second-round bids December 10 or 11 to develop the the Majnoun field.

A spokeswoman for Total said the bid would be evaluated according to price and volume of oil Total promised to extract.