Iraq's Talks with Exxon to Develop New Southern Fields in Progress

Iraq's talks with U.S. oil major Exxon Mobil Corp to develop two small southern oilfields are progressing well, the head of state-run South Oil Co. said.

Iraq has been in talks with Exxon Mobil and PetroChina about investing in a multi-billion-dollar project to boost output from the Luhais, Nassiriya, Tuba, Nahr Bin Umar and Artawi oilfields.

"We have been in talks with Exxon Mobil for more than two years to develop Nahr Bin Umar and Artawi oilfields, and we have managed to reach advanced results," SOC's chief Hayan Abdul Ghani told reporters in the southern city of Basra. He did not elaborate.