ExxonMobil Iraq Ltd. signed an agreement with the Iraq Ministry of Oil to redevelop and expand West Qurna 1 field in southern Iraq.
The agreement was signed in Baghdad in the presence of the Iraq Oil Minister Hussain al-Shahristani and Rob Franklin, president of ExxonMobil upstream ventures. The consortium members are ExxonMobil as the lead contractor with 60% interest, Oil Exploration Co. (owned by the Iraq government) with 25% interest, and Royal Dutch Shell PLC with 15% interest.
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