Iraq signed a 20-years contract with a consortium made up of BP and CNPC to develop its largest oil field Rumalia. The field would contain 17.8 Gbl. It production capacity is to be increased to 2.85 mbl/d (from 1 mbl/d currently). The two companies plan to invest $50bn in the project. They will operate through a joint venture in which Iraq's State Oil Marketing Organisation (SOMO) will have 25%, BP 38% and CNPC 37%. Iraq signed another oil agreement for the Zubair field (4.1 Gbl) with a consortium made up of Eni, Occidental Petroleum and Korea Gas Corporation. This service contract will last 20 years and can be extended to 25 years. It also includes the participation of Iraqi State Company, Southern Oil, with a 25% share. In the next seven years, under the field's expansion programme, production is expected to reach a plateau level of 1.125 mbl/d. The country is also negotiating for the development of the West Qurna field (8.6 Gbl).