Kogas to invest $6.5bn in Iraq Zubair field

South Korea's Kogas has announced that it will invest $6.5bn in the development of the Zubair oilfield in Iraq, as part of a consortium planning to sign a final deal on the four billion barrel oilfield tomorrow, Reuters has reported. The oilfield had a production capacity of 195,000 barrels of oil per day, which was expected to increase to 1.2 million barrels per day, Kogas said. Led by Italian oil major Eni, the consortium includes Kogas and US-based Occidental Petroleum.