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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (33206)12/20/1998 12:02:00 PM
From: Tomas  Read Replies (1) of 95453
 
Chirac talking sense on the Iraq issue? Well, the real reason is Big Business:

As of October 1998, French companies Elf Aquitaine and Total were negotiating with Iraq on development rights for Majnoon, which has reserves of 10-30 billion barrels of 28-35 API oil. It is located only 30 miles north of Basrah on the Iranian border. Elf will retain operatorship and a 40% stake in the $3-$4 billion project. Initial output at Majnoon is expected to be 300,000 bbl/d, with later development yielding 600,000 bbl/d or more. Ultimate production potential is estimated at up to 2 MMBD.

France-based Total is apparently close to an agreement with Iraq on development of the 6-billion barrel Nahr Umar field. Initial output from Nahr Umar is expected to be around 440,000 bbl/d.

France has always supported the worst dictators and murderers in the world, both financially and militarily, as long as it's profitable.
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