(Dow Jones Newswires), May 13, 2010
Turkish Petroleum, known as TPAO, has decided to join CNOOC to develop Iraq's Missan oil field complex in southern Iraq, a senior Iraqi Oil Ministry official said Thursday.
"The ministry has agreed to a request submitted by TPAO to join the consortium led by Cnooc to develop Missan oil fields," Sabah Abdul Kadhem al-Saadi, head of the legal and commercial office at the ministry's Petroleum Contracts and Licensing Directorate, told Dow Jones Newswires.
A deal for Missan oil fields, with proven reserves of 2.5 billion barrels, is expected to be sealed Monday after Cnooc-led consortium agreed to the ministry's terms.
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