The Rumaila oil field is a giant oil field located in southern Iraq, approximately 20 mi (32 km) from the Kuwaiti border. The dispute between Iraq and Kuwait over allegedly slant-drilling in the field was one of reasons for Iraq's invasion of Kuwait in 1990. This field was discovered by British Petroleum (BP) in 1953. Under Saddam Hussein, it was nationalized by Iraq. Since then, this massive oil field remains under Iraqi control. Rumaila is considered the fourth largest field in the world.
The field is estimated to contain some 15% of Iraq's oil reserves.[citation needed]
The field is owned by Iraq and subcontracted to BP and CNPC under Iraq Producing Field Technical Service Contract (PFTSC). BP is an operator of the project with 38% while CNPC and SOMO hold 37% and 25%, respectively. BP and CNPC will recover a renumerated fee of $2 per barrel in profits which will account to 15 to 20% rate of return on investment. Iraqi government and BP agreed to cut the initial bidding price per barrel from $3.99 to $2.00 in June 2009. ExxonMobil which also bid on servicing this field at a price $4.80 walked away due to price cutting terms by the Iraqi Government leaving BP and CNPC as winners of the contract. BP expects the costs will begin to be recovered after the production will be raised by 10% from the current output. The rehabilitation and expansion project will be managed by Rumaila Field Operating Organization (ROO) which will be staffed mainly from TEKFEN and smaller number of experts from BP and CNPC.
Piyush "Bobby" Jindal (born June 10, 1971), an American politician, is the 55th and current Governor of Louisiana. Jindal is formerly a member of the United States House of Representatives. He is a member of the Republican Party.
Jindal was born in Baton Rouge, Louisiana, to Amar and Raj Jindal, who came to the United States as immigrants from Punjab, India, six months before he was born. Jindal attended Baton Rouge Magnet High School, graduating in 1988. He competed in tennis tournaments, started a computer newsletter, a retail candy business, and a mail-order software company. He spent his free time working at the concession stands during LSU football games. Jindal was one of 50 students nationwide admitted to the Program in Liberal Medical Education (PLME) at Brown University, guaranteeing him a place in medical school. He was interested in public policy. Jindal also completed a second major in biology. He graduated in 1991 at the age of 20, with honors in both majors.
Jindal was named a member of the 1992 USA Today All-USA Academic Team. He was accepted by both Harvard Medical School and Yale Law School, but studied at New College, Oxford, as a Rhodes Scholar. He received an M.Litt. degree in political science with an emphasis in health policy from the University of Oxford in 1994 for his thesis "A needs-based approach to health care". He turned down an offer to study for a D.Phil. in politics, instead joining the consulting firm McKinsey & Company.