Exxon, Baghdad face Setback on Seawater Project

By John Lee.

Talks between ExxonMobil and Iraq on the multi-billion-dollar Common Seawater Supply Project (CSSP) have reportedly reached an impasse.

According to Reuters, two sides differ on contract terms and costs.

Ian Thom, principal analyst at consultancy Wood Mackenzie, told the news agency:

“The CSSP would be expensive and challenging but there’s opportunity here (for Exxon) … to get access to resources on a very large scale and to achieve something and really make a difference to its own business.”

More here from Reuters.

(Source: Reuters)