Financial Times FT.com

Iraq signs deal for Rumaila field

BAGHDAD - Iraq’s oil ministry said on Thursday it had signed a deal with Britain’s BP and China’s CNPC to develop its super-giant Rumaila oilfield, a milestone in Iraq’s efforts to renew its struggling oil sector.

“The signed contract will be referred to the cabinet for approval, after which the oil ministry will hold a ceremony to announce the beginning of work by the two companies,” said Asim Jihad, a ministry spokesman.

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