March 5, 2013 / 3:20 AM / in 5 years

PetroChina says willing to develop Iraq's W.Qurna oilfield with Exxon

BEIJING, March 5 (Reuters) - PetroChina , China’s largest oil and gas producer, is willing to jointly develop the West Qurna oilfield in Iraq with U.S. oil major Exxon Mobil, its chairman Jiang Jiemin said on Tuesday.

“We are willing to jointly develop the project with Exxon Mobil. Exxon Mobil welcomed our participation and the Iraqi government also supports us joining the development,” Jiang told Reuters on the sidelines of the annual parliamentary session in Beijing.

There has been speculation in recent months that Exxon was considering pulling out of the $50 billion West Qurna 1 oilfield located in southern Iraq after it signed for six blocs with the Kurdistan regional government.

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