By John Lee.
The Iraqi Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.
Following discussions, the Cabinet approved a bid from Schlumberger to drill 96 wells for the Basra Oil Company (BOC) and ExxonMobil.
The company has previously worked at ExxonMobil’s West Qurna 1 field in southern Iraq.
The deal is valued at more than $480 million.
(Source: Office of the Prime Minister)
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