A consortium of buyers led by ExxonMobil is outstripping the competition in the bidding process for the West Qurna oilfield in Iraq, a spokesperson for Iraq's petroleum and licensing directorate has declared.
Speaking to Gulf Daily News, representative Sabah Abdul Kahim said that the consortium, which also includes Royal Dutch Shell, has put in a more competitive bid than Lukoil, the nearest rival in the tender process.
West Qurna is one of the many fields left unclaimed in the first round of licensing in June. Along with Exxon and Lukoil, France's Total is also bidding on the field, which is one of the largest in the world.
As with the deal struck between Iraq and BP and China National Petroleum Corp, the successful bidder is likely to invest heavily in training and development to help boost local employment in Iraq through development of the field.
Both BP and China National have agreed to commit $5 million (£3 million) to oil training initiatives to support their work in the country.
Oil and Gas Directory: Training and Development