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.
Jihad said the deal was signed by ministry officials represented by Iraq’s South Oil Company and officials from CNPC and BP.
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