PetroChina acquires 25% stake In Iraq oilfield from ExxonMobil

29 November 2013 06:29  [Source: ICIS news]

SINGAPORE (ICIS)--PetroChina has acquired a 25% stake in Iraq's West Qurna-1 (WQ1) oilfield from ExxonMobil for an undisclosed fee, the Chinese oil and gas company said late on Thursday.

The WQ1 oilfield will help PetroChina achieve synergies with its other projects in Iraq, the company said in a statement.

The WQ1 oilfield is located about 50 kilometers to the northwest of Basra and close to the north of Rumaila field where PetroChina is operating in Iraq, it added.
By: Fanny Zhang
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