* Iraq OKs $998 mln oil contract with Samsung-source

January 24th, 2012 02:22 pm · Posted in NEWS: Dinar Currency & World Currency News 

Jan 24 (Reuters) – Iraq’s cabinet approved a $998 million oilfield service contract on Tuesday with a South Korean company for the West Qurna Phase Two oilfield, the cabinet said in a statement.

An Iraqi oil official who asked not to be identified said the deal was with Samsung Engineering, the only South Korean company on the final shortlist.

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