Iraq, STX Group Sign Deal to Develop Okaz Gas Field

The Iraqi government on Thursday signed a $449 million contract with South Korea's STX Corporation to develop the Okaz gas field in the west of the country, al-Shorfa.com reports.

"The contract includes building a modern pipeline system to carry gas extracted from the field for export," said Deputy Prime Minister for Energy Affairs Hussein al-Shahristani.

The company is expected to design, prepare and construct the pipelines in the system within 46 months, the website adds.

Sign-up for our free weekly newsletter update via email here