Russian oil companies sign new contracts with Iraq

The tense situation around Iraq is not confusing Russian oil officials. On January 17 they completed three-day negotiations with representatives of Iraqi oil agencies. They signed a joint protocol on oil collaboration and reached several contracts providing for the joint development of two large oil fields in the south of Iraq and oil exploration in the Western Desert. According to the Iraqi news agency INA, together with these new agreements, the total cost of 900 contracts between Russia and Iraq reached EUR1 billion, the Nezavisimaya Gazeta newspaper reported.