Shell Settles Arbitration With Baghdad

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Iraq’s Oil Ministry and Shell have finalized the phrases of a settlement overlaying unpaid invoices following the agency’s 2018 exit from the 240,000 b/d capability Majnoon discipline. MEES completely learns that the settlement was reached in March this yr, and has now been given the green-light by the Iraqi Council of Minister’s Authorized Directorate however nonetheless awaits the cupboard’s ultimate approval. Shell had filed for arbitration final September (MEES, 17 September 2021).

Shell will obtain $210mn to cowl prices it incurred growing the sphere however that weren’t reimbursed by the ministry according to its Technical Service Contract (TSCs). (CONTINUED – 249 WORDS)

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