UPDATE: Exxon splits West Qurna 1 stake with CNPC and Pertamina

The West Qurna 1 field now has PetroChina and Pertamina partners, though ExxonMobil retains operator role.
UPDATE: Exxon splits West Qurna 1 stake with CNPC and Pertamina
A worker adjusts the valve of an oil pipe at the West Qurna 1 oilfield in Basra on Nov. 28, 2010. (ATEF HASSAN/Reuters)

ExxonMobil has reduced its stake in the 9.1 billion barrel West Qurna 1 field from 60 percent to 25 percent – but will still be the operator – following a signing ceremony in Baghdad on Thursday.The move is part of ExxonMobil's plan to de-risk its Iraq assets."The final process … has been completed and the agreement has been signed," said Assem Jihad, the Oil Ministry spokesperson.PetroChina, the China National Petroleum Corp. (CNPC) subsidiary, now has 25 percent. Indonesia's ...

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