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| 09 October, 2017

Iraq's talks with Exxon on southern oilfields project reach final stages

The enhanced recovery project targets the Luhais, Nassiriya, Tuba, Nahr Bin Umar and Artawi oilfields.

Image used for illustrative purpose. 
Workers adjust the valves of oil pipes at West Qurna oilfield in Iraq's southern province of Basra . Picture taken November 28, 2010.

Image used for illustrative purpose. Workers adjust the valves of oil pipes at West Qurna oilfield in Iraq's southern province of Basra . Picture taken November 28, 2010.

REUTERS/Atef Hassan
BAGHDAD - Iraq's talks with U.S. oil major Exxon Mobil to develop a multi-billion-dollar project to boost output from several southern oilfields are nearing completion, its oil minister Jabar al-Luaibi said on Monday.

"Talks are in advanced final stages with Exxon to develop and finance the important south project," Luaibi told reporters after a meeting an Exxon delegation in Baghdad.

The enhanced recovery project targets the Luhais, Nassiriya, Tuba, Nahr Bin Umar and Artawi oilfields.

Iraq, OPEC's second-largest producer, had approached PetroChina and Exxon Mobil about investing in the project, Iraqi officials have said.



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(Reporting by Ahmed Rasheed; Writing by Maher Chmaytelli; Editing by Louise Heavens) ((maher.chmaytelli@thomsonreuters.com; +9647901917030;))