Total and Chevron, two years ago, signed an agreement to develop the Magnoon field whose development went to Shell and Petronas today. They bid $1.75 today, thus lost out to the winning bid of $1.39. Don't know what the share of Petronas is, but probably 25%. Shares in the smaller Halfiya field are divided 50% to the Chinese National Petroleum Company, with 25% each to Petronas and Total.
China isn't doing badly at all, now sharing in one giant and one smaller field, and having already picked up the Ahdab field exclusively.
Five more fields will be offered tomorrow.
The East Baghdad field which received no bids underlies Sadr City district where bombings are frequent.
Folkiedave, time to send in Cheney and his Blackwater crew?