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FINANCIAL NEWS
PetroChina acquires 25 percent of Iraqi oil field
29 Nov 2013
(MENAFN) PetroChina said that it acquired a 25 percent stake in the Technical Service Contract (TSC) for an oil field in Iraq, Xinhua reported.
The stake, which PetroChina made formal delivery for its acquisition through its subsidiary, had been owned by a subsidiary of ExxonMobil.
The oil field, called West Qurna-1, is situated 50 km northwest of Basra, and is close to the north end of the Rumaila field.
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