Iraq, Shell to sign gas deal

September 21, 2008 3:13:03 PM PDT
Iraq's Oil Ministry says it will sign a gas deal with Royal Dutch Shell on Monday.The ministry says Oil Minister Hussein al-Shahristani will sign the agreement with executives from the Anglo-Dutch company in Baghdad.

Ministry spokesman Assem Jihad also said Sunday that the joint venture involving Shell and state-run South Oil Co. will be established immediately to invest in natural gas development in the southern province of Basra.

Iraq will control 51 percent of the venture, while Shell will hold the remaining 49 percent.


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