Oil Minister Hussain Al Shahristani said the Chinese firms have agreed
to an Iraqi formula for a $2.30 fee for every additional barrel of oil
produced at Maysan, located near the disputed border with Iran.
The field was believed capable to produce 450,000 barrels per day.
Officials said the Chinese companies agreed to Iraq's terms after months
of deliberation.
In 2009, CNOOC and SinoChem failed to win a concession to
operate three fields in Maysan.
