BANZAI7 NEWS--A consortium led by Cnooc Ltd., the Hong Kong-listed unit of China National Offshore Oil Corp., is the frontrunner to win the right to develop Iraq's 2.5 billion-barrel Missan oil-field complex after agreeing to Iraqi government proposals, officials said Thursday.
The Iraqi Oil Ministry has concluded talks with Cnooc and its partner, Sinochem International Corp., relating to the development of the three Missan fields in southern Iraq and has submitted a draft contract to the cabinet for final approval, said one official familiar with the talks.
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