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Iraq oil deals close to being finalized

The Exxon-Mobil and Shell consortium have accepted Iraqi contract amendments to develop an oilfield.

The Iraqi government amendment changes for an oilfield contract have been accepted by a consortium led by Exxon Mobil and Royal Dutch Shell. The deal to develop the 8.7 billion barrel West Qurna Phase One oilfield is expected to be finalized by Jan. 25. The Exxon-Shell team beat out the Russian led team Lukoil-Conoco Phillips and another led by China National Petroleum Corp. Further details can be found in the Wall Street Journal article Exxon Consortium OKs Iraq Contract Changes .

 
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