Iraq Approves $17 Billion Gas Deal With Shell, Mitsubishi
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Iraq approved a $17 billion contract with Royal Dutch Shell Plc and Mitsubishi Corp. for the capture of natural gas at three oilfields in the south of the country, a government spokesman said.
Iraq has a 51 percent stake in the venture known as South Gas Co., Ali Al-Dabbagh said today. Shell has a 44 percent stake, while Mitsubishi owns the rest, he said by telephone from Baghdad. The agreement is for 25 years, according to Al-Dabbagh.