China's CNOOC Ltd has signed an exploration, development and production contract (EDPC) with Iraq's state-owned Midland Oil Company to explore oil and gas at the Block 7 field.

CNOOC Africa Holding, the state oil and gas company's fully owned unit, will hold 100 percent interest and operate the 6,300-square-kilometre Block 7 in central Iraq's Diwaniyah province, a Reuters report said.

The first stage of the exploration period will last three years, the statement said.

No financial details were given.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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