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Iraq seeking help to develop oil
Iraq is set to announce a series of contracts with foreign oil companies in an effort to boost output of its key export commodity.
Monday, 30 June 2008 09:04
US and European firms will be asked to provide technical expertise to help Iraq increase daily production by up to half a million barrels.
Output is already at a five-year high but substantial investment is required to modernise its oil infrastructure.
Iraq has reserves of about 115 billion barrels, the world's third largest.
BBC
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