Many of the world's biggest energy companies may have to surrender most of the gas from Iraq's vast southern oilfields to a processing and export project led by Shell, a final draft contract between Baghdad and Europe's biggest company, obtained by Reuters, shows.
Oil giants including Royal Dutch Shell , BP , U.S.-based Exxon , China's CNPC, and Italy's Eni signed technical service contracts to develop three oilfields in southern Iraq in 2009-2010.
But the oil deals to develop the Zubair, Rumaila and West Qurna 1 fields near Basra oblige the big oil contractors to surrender the gas they do not use for reinjection or power generation to Iraq's state-run South Gas Co (SGC).
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