ExxonMobil, Shell finalize development deal for Iraqi oilfield

01/25/2010 | Wall Street Journal, The

ExxonMobil and Royal Dutch Shell completed an agreement to develop the West Qurna Phase 1 oilfield in southern Iraq, officials said. Both companies will receive $1.90 per barrel of oil extracted beyond current output at the area. The ExxonMobil team plans to raise production at the field from 279,000 barrels a day to 2.325 million barrels a day.

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