Iraq signs first contract to develop oil field

Dec 29, 2004 01:00 AM

The Iraqi Oil Ministry signed a $ 136 mm deal to develop an oil field in the northern city of Arbil, the first contract of its kind since the ouster of former President Saddam Hussein.
Iraq signed the contract with a joint venture comprising British, Iraqi and Turkish companies. The oil field in the Kurdish autonomous region is expected to yield 100,000 bpd.

Source: Kyodo
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