Iraqi oil deal inked

China and Iraq have signed an oil deal that would allow China National Petroleum Corp to help develop al-Ahdab oil field in east Iraq's Wasit province. Iraqi Oil Minister Hussein al-Shahristani signed the US$2.9-billion deal with CNPC President Jiang Jiemin in a ceremony held at the Iraqi ministry on Monday.

Shahristani said the deal "would produce a total of more than 110, 000 barrels a day, which would mainly be allocated to a power plant in the province and the surplus would be exported."