Iraq’s talks with US oil giant Exxon Mobil to develop a multi-billion dollar project aimed at boosting production from several southern oil fields are drawing to a close, Oil Minister Jabbar al-Luaibi said on Monday.
After talks with a delegation from Exxon in Baghdad, al-Luaibi told reporters in the final stages of negotiations with Exxon to develop and fund the important southern project.
The improved extraction project targets the fields of Al-Lahis, Nasiriyah, Al-Tuba, Nahr Ben Omar and Artawi.
Iraqi officials said Iraq, OPEC’s second-largest producer, had opened PetroChina and Exxon Mobil for investment in the project.
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