Energy majors to invest $100B in the development of Iraqi oilfields

10/19/2011 | Nasdaq.com

ExxonMobil, BP and Eni agreed to invest about $100 billion in the development of the West Qurna Phase 1, Rumaila and Zubair oilfields in Iraq, said Thamer Ghadhban, the top energy adviser to Iraq's prime minister. "The bulk [of the finance] is for West Qurna 1 because the Rumaila and Zubair fields were well advanced in terms of development ... while West Qurna Phase 1 needs more," he said.

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