Iraq has initialed a deal with a consortium led by European giant Royal Dutch Shell PLC and Malaysia's state-run Petronas to develop one of Iraq's most prized oil fields. ...
The two companies won the right earlier this month to develop the 12.5 billion barrel southern Majnoon field.
The Iraqis and Iranians had some fairly serious battles over this place during the First Gulf War in the 1980s.
UPDATE: I'm assuming this is related, as well:
Oil exports from northern Iraq have been halted by a sabotage attack on the pipeline to the Turkish port of Ceyhan, oil ministry spokesman Assem Jihad said on Sunday.
Iran really doesn't want Iraq to get back on their financial feet.
