Iraq Opens Bids for Oil Field Contracts

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Uploaded by on Jul 1, 2009

Iraq began auctioning contracts to develop its rich oil and gas fields Tuesday in an effort to raise more revenue to rebuild the war-torn country. A consortium of foreign companies including British Petroleum and China's CNPC accepted a contract to expand production in the largest oil field on offer but other companies were asking for more than Baghdad was willing to offer.
VOA's Mil Arcega has more.

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