Oil giant Shell and Malaysia's state-run Petronas oil company finalised a contract on 
Sunday to develop Iraq's giant Majnoon oil field.
In December Shell and Petronas beat a rival bid from France's Total and China's CNPC to develop the 12.6bn barrel field in southern Iraq.
The field currently produces just 46,000 barrels per day.
Shell and Petronas have pledged to increase that output to 1.8 million barrels per day.
Foreign expertise
The deal was signed at Iraq's Oil Ministry in the presence of Iraqi Oil Minister Hussain al-Shahristani and Mounir Bouaziz, an executive of Shell Gas and Power.
Royal Dutch Shell owns 60% of the venture, with Petronas owning the remainder.
Their joint-venture, which includes a 20-year service contract, will see the firms receive a fee of $1.39 a barrel of oil.
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