Dhiya Jaafar, head of Iraq's South Oil Co has said that a contract to develop the country's four billion barrel Zubair oilfield was won by a group led by Italian oil major Eni effective on Thursday, Reuters has reported. The Eni-led consortium plans to invest about $20bn in Zubair over the 20-year term of the contract, which can be extended to 25 years. Eni is in partnership with U.S.-based Occidental Petroleum Corp and South Korea's KOGAS.
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