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Shell have reported that little progress had been made in reaching an agreement for short-term oil service contracts in Iraq in recent weeks, but are eyeing potential natural gas deals.
Worries over security are holding up agreements but analysts say the structure of the service deals will also present problems for oil companies.
Iraq had hoped to agree one to two year contracts earlier in the year, under which fees would be paid to oil companies to assist in increasing oil output, but no agreement has yet been reached despite the June 30 deadline having passed.
Shell Chief Executive Jeroen van der Veer said that the company hoped to reach a deal before too long, and that they were also looking at potential gas deals which could possibly offer a profit-sharing element.
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