NEW DELHI, Aug 23 (Reuters) – Exxon Mobil is selling stakes it controls in Iraq's West Qurna-1 oilfield to China's PetroChina and Indonesia's Pertamina, the country's oil minister confirmed on Friday.
"25 percent to Petro China and 10 percent to Pertamina," Abdul Kareem Luaibi told Reuters on the sidelines of a ministerial meeting here.
He added that the deal would be done "maybe after two to three weeks".
Exxon Mobil has a 60 percent stake currently in the giant oilfield and is the operator.
Company and industry sources said on Thursday that China and Indonesia were set to join Exxon Mobil's $50 billion project to develop the field.
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you