S.Korea says KOGAS consortium wins Zubair oilfield

SEOUL Wed Oct 14, 2009 2:06am EDT

SEOUL Oct 14 (Reuters) - A consortium of South Korea's state-run KOGAS (036460.KS), Italy's ENI (ENI.MI) and U.S. firm Occidental (OXY.N) has won a contract to develop Iraq's Zubair oilfield, the South Korean economy ministry said on Wednesday.

The Zubair oilfield is estimated to have reserves of 3.7 billion barrels, according to the Iraqi authorities, but the consortium expects up to 6.6 billion barrels in reserves, the ministry said in a statement. (Reporting by Rhee So-eui; Editing by Jonathan Hopfner)

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