Iraq is poised to sign a $53 billion, 30-year agreement with ExxonMobil and PetroChina that will dramatically increase production from a pair of fields in the country's south and help implement a long-delayed seawater injection scheme crucial to maintaining flows from giant oilfields in the Basra region, writes Nassir Shirkhani.
The announcement was made by Prime Minister Adel Abdul Mahdi, who said Iraq expects to earn $400 billion over the life of the project.
