Iraq seals 2 oil deals with Angolan company.
Iraq has signed two final deals with Angola's national oil company Sonangol to develop two small oil fields in the north. The 20-year agreements were part of seven deals awarded in Iraq's second postwar bidding round last month. Each deal could be extended for five more years. Sonangol will develop the 858 million-barrel Nejma field for $6 per barrel produced. It will be paid $5 per barrel produced for developing the 807 million-barrel Qayara field.
The deals were signed on Tuesday in Baghdad.
The fields are located in Ninevah province, about 225 miles, or 360 kilometers, northwest of Baghdad. Ninevah's main city, Mosul, is considered the last significant urban stronghold for Sunni insurgents.