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Iraq's Oil Ministry initialed a deal on Tuesday with China National Petroleum Company (CNPC), Total and Petronas for Halfaya, the latest deal it has inked that it hopes will turn Iraq into a major global exporter.
The Halfaya oilfield, in southern Iraq, has estimated reserves of 4.1 billion barrels of oil. CNPC owns 50 percent of the venture, while France's Total and Petronas of Malaysia each hold a 25 percent stake of their venture.
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