CNPC signs Iraqi oil deal
Published: 08 Oct 2009 08:02:01 PSTChina National Petroleum Corp (CNPC) and Britain's BP signed a deal with Iraq's Oil Ministry to develop its vast Rumaila oilfield, the ministry said Thursday.
"The signed contract will be referred to the cabinet for approval," Oil Ministry spokesman Asim Jihad said.
Jihad said the agreement was signed in Baghdad by the ministry, represented by Iraq's State-owned South Oil Company, and officials from CNPC and BP.
CNPC has a 37 percent stake in the venture, while BP holds a 38 percent share. Iraq's State Oil Marketing Organization controls the rest.
Global Times/Reuters
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