Sunday, October 29, 2006

China to revive Saddam-era oil deal

Bahrain Tribune - 29 October, 2006

China and Iraq are reviving a 1997 deal worth $ 1.2 billion signed by Beijing and Saddam Hussein’s government to develop an Iraqi oilfield, Baghdad’s oil minister said yesterday.Officials will meet next month to renegotiate the agreement over the Al Ahdab field, said Iraqi Oil Minister Hussain Al Shahristani. He was wrapping up a three-nation tour to secure investment to revive his country’s oil industry.“If agreement is reached very quickly then I expect them to start working right away,” Al Shahristani said at a news conference.

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