BP initials contract for Iraqi Rumaila field

摘要

Dubai-BP has initialed a contract for the redevelopment of Iraq's giant Rumaila oil field, which will now be sent to the Iraqi government for final approval, the company said October 8. Rumaila was the only field awarded in Iraq's first post-war bidding round, held on June 30, with BP and partner China National Petroleum Corporation clinching the deal after accepting lower renumeration than they had originally sought.