Exxon and Eni agree to Iraqi terms for major oil contracts

World's largest oil companies end seven-month debate on billions-dollar investment and will soon sign contracts for two of Iraq's biggest oil fields.

BAGHDAD - Exxon Mobil on Monday and Italy's Eni on Sunday agreed to the still undisclosed changes made to the draft contract that Iraq insisted on and will soon finalize deals that would add nearly 3 million barrels per day (bpd) to Iraq's production capacity.

The changes were requested after the draft contract was agreed to in November and given to the Council of Ministers for approval, a step necessary before final signature. The government requested amendments to these and draft contracts for seven other oil fields before giving approval.

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