Iraq signs final $17-bln Shell gas deal

BAGHDAD Sun Nov 27, 2011 8:41am EST

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BAGHDAD Nov 27 (Reuters) - Iraq signed a final $17-billion deal with Royal Dutch Shell and Mitsubishi on Sunday to capture flared gas at southern oilfields, a project that should boost production of sorely needed electricity.

The 25-year deal, one of the largest Iraq has signed with foreign energy companies, is meant to help harness more than 700 million cubic feet per day of gas being burned off at southern fields.

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