Iraq in 'Final Stages' of Southern Oilfields Talks

Iraq's talks with U.S. oil major Exxon Mobil (XOM) to develop a multi-billion-dollar project to boost output from several southern oilfields are nearing completion, its oil minister Jabar al-Luaibi said on Monday.

"Talks are in advanced final stages with Exxon to develop and finance the important south project," Luaibi told reporters after a meeting an Exxon delegation in Baghdad.

The enhanced recovery project targets the Luhais, Nassiriya, Tuba, Nahr Bin Umar and Artawi oilfields.

Iraq, OPEC's second-largest producer, had approached PetroChina (PCCYF) and Exxon Mobil about investing in the project, Iraqi officials have said.

Reporting by Ahmed Rasheed