Monday 11 July 2011

Iraq, Shell to sign $12-bln gas deal - Maktoob News

Iraq will sign a final contract with Royal Dutch Shell on Tuesday for a $12-billion project to capture flared gas at southern oil-fields, two sources close to the deal said on Sunday.

Iraq's oil ministry, Shell, and Japanese project partner Mitsubishi have solved differences that had delayed the joint venture with Iraq's South Gas Co. since a draft agreement was struck in 2008.

'We have agreed on everything. The initial signing is on Tuesday,' said an Iraqi oil source.

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