Iraq auctions fields to move up oil's big league

BAGHDAD (Reuters) — Iraq could challenge Russia’s number two spot among world oil producers after auctioning two prized oilfields on Friday, although it failed to attract companies to bid for deals in its most dangerous areas.

Royal Dutch Shell (RDSa.L) and Malaysia’s Petronas [PETR.UL] won the deal for Majnoon, one of the world’s largest untapped oilfields, on the first day of Iraq’s second oil contract auction since the 2003 U.S. invasion, a heavily protected event.

via UPDATE 3-Iraq auctions fields to move up oil’s big league | Reuters.

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