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Iraqi Prime Minister said his country is close to finalizing a $53 billion deal with ExxonMobil and PetroChina to develop the Nahr Bin Umar and Artawi oilfields and raise their production from 125,000 to 500,000 bpd. The development of the two fields is expected to make $400 billion over the 30 years the deal will be in effect.

Iraq is Close to Making a $53 Billion Deal with ExxonMobil & PetroChina

Iraqi Prime Minister said his country is close to finalizing a $53 billion deal with ExxonMobil and PetroChina to develop the Nahr Bin Umar and Artawi oilfields and raise their production from 125,000 to 500,000 bpd.

The development of the two fields is expected to make $400 billion over the 30 years the deal will be in effect.

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