Iraq said it is poised to sign a heads of agreement with ExxonMobil and PetroChina to implement a $50 billion-plus upstream development and infrastructure project.
The deal involves delivering a long-delayed seawater injection scheme crucial to maintaining flows from giant oilfields in the country's Basra region.
Oil Minister Thamir Ghadhban said the two sides are still trying to solve differences over commercial terms, including the rate of return sought by the US supermajor.
