BP consortium secures Iraq Oil deal

Iraq’s government has approved an oil deal with a consortium led by British giant BP PLC to develop a prized oil field in the south.

BP consortium secures Iraq Oil deal
Sat, 17 Oct, 2009 - 12:50

Iraq’s government has approved an oil deal with a consortium led by British giant BP PLC to develop a prized oil field in the south.

BP and its partner, China’s CNPC, were the only winners in Iraq’s first international oil auction in over 30 years in June for development rights for the 17.8 billion-barrel Rumaila field.

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