Shell & Petronas Preparing Award for Iraq Oil Wells

Shell and Petronas are in the process of awarding a deal to drill new oil wells at Iraq's super giant Majnoon oil field which will include engineering, procurement and construction deal to build various production installations at the field.

Potential firms in the bidding lists are reportedly Halliburton, Weatherford International, and Petrofac which will be responsible to develop Majnoon to175,000 barrels a day by 2012.

The oil field is owned by Shell of 45%, Petronas 30%, and Iraq's state-run Missan Oil holding 25%.

Singapore Building Facility for LNG Import from Qatar

Singapore is building new import facility for liquified natural gas on Jurong Island which will receive LNG from Qatar in the country's plans to diversify its gas supply. The facility costs $1.5 billion is due to be completed in 2013 to store more than six million tonnes per annum.

Singapore currently depends on the piped LNG from Malaysia and Indonesia.

Singapore's Prime Minister is replying in response to Indonesian announcement of increasing the supply price.

The partnership with Qatar, the world's biggest natural gas producer is expected after Qatar Petroleum International bought into Petrochemical Corporation of Singapore last November.