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Exxon Mobil Corporation Signs Big Iraq Oil Deal


Exxon Mobil Corporation (NYSE:XOM) has signed a $100 million contract to drill 20 oil wells in Iraq.

Exxon Mobil Corporation Signs Big Iraq Oil Deal

According to reports, Exxon Mobil Corporation (NYSE:XOM), the US oil giant, has signed a contract with the Iraqi Drilling Company, a state-run organization, to drill 20 oil wells in West Qurna-1 Oil Field in Basra, south of Iraq.

The project is scheduled to be completed within 24 months and cost up to USD 100 million.

Exxon Mobil Corporation (NYSE:XOM) has already received a contract bid on a development service to the West Qurna-1 Oil Field at a cost of USD 1.9 million per extra barrel.

Exxon Mobil Corp. (NYSE:XOM) shares were at 86.20 at the end of the last day’s trading. There’s been a 2.7% change in the stock price over the past 3 months.

Exxon Mobil Corporation Signs Big Iraq Oil Deal
Exxon Mobil Corp. (NYSE:XOM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 4 out of 19 in the industry


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