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| 09 October, 2017

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

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

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

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

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;))