Carving Up Iraq's Oil Resources

Italy's Eni, Occidental Petroleum and Korea Gas have just signed a deal to develop the Zubair oil field in southern Iraq, in a 20-year contract which involves US$20bn in investment. Eni has a 32.81% stake in the venture, while Occidental Petroleum holds 23.44%, Kogas 18.75% and Iraq's state-run Missan Oil holds 25%. This oil deal comes a week after Royal Dutch Shell and Petronas signed a deal with Iraq to develop the US$12.8bn barrel Majnoon oil field; Petronas and Japex signed a contract with the government to develop the Garraf oil field, while Exxon Mobil and Shell are expected to

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