BAGHDAD - The Iraqi Council of Ministers Tuesday approved contracts with foreign oil companies to develop oil fields that, within seven years, could be producing nearly as much as Iraq produces altogether today.
The Majnoon field, the second largest of the 10 oil projects offered to bidders Dec. 11 and 12, as well as Gharraf, Qaiyarah and Najmah were all approved after modifications and will soon be made official in a signing ceremony with company and Iraqi Oil Ministry officials.
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