Iraq: Oil Deals Signed With Sonangol
January 26, 2010
Iraq on Jan. 26 signed deals with Angolan state oil company Sonangol to develop the oilfields of Qayara and Najmah, Reuters reported. Qayara, with reserves of some 800 million barrels, and Najmah, with 900 million, are in Iraq’s northern Nineveh province, where militants remain active. The contracts are part of deals Iraq has begun signing that could help increase its oil output capacity to 12 million barrels per day in seven years from the current 2.5 million; that would bring it to a level that rivals Saudi Arabia.