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Article: Iraq : ExxonMobil wins $50bn contract to develop West Qurna oilfield.
- Article from:
- TendersInfo
- Article date:
- November 6, 2009
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Byline: manish03
Martin Chulov in Baghdad guardian.co.uk, Thursday 5 November 2009 20.20 GMT The American energy giant ExxonMobil today won the right to develop one of the world's most prized untapped oil reserves, in a $50bn ([pounds sterling]30bn) deal that will entrench the company as one of the largest players in postwar Iraq.
Exxon was awarded a contract to extract oil from the West Qurna reservoir near Basra in Iraq's south during an extended tender process that has seen the Iraqi government partner foreign firms in a bid to get its reserves of oil out of the ground as cheaply and quickly as possible.
West Qurna was considered the jewel ...