and PetroChina’s presence in the Middle East. Iraq is close to completing a $ 400bn 30-year contract for the development of oil fields with PetroChina and PetroChina in the south of the country, with possible returns of $ 400bn for Iraq , according to Prime Minister Nahr Bin Umar . Iraq , who is Exxon ’s second biggest oil exporter, has previously said it will be considerably increasing its oil production rates, despite ongoing challenges and the OPEC cut agreements, so this OPEC deal will be a significant boost for its strategy.
Iraq is close to completing a $ 400bn 30-year contract for the development of oil fields with PetroChina and PetroChina in the south of the country, with possible returns of $ 400bn for Iraq , according to Prime Minister Nahr Bin Umar . Iraq , who is Exxon ’s second biggest oil exporter, has previously said it will be considerably increasing its oil production rates, despite ongoing challenges and the OPEC cut agreements, so this OPEC deal will be a significant boost for its strategy.