Q: "Not sure how the Iraqi stake will influence development."

Little Hawk: "With the right payoffs placed in the right hands? Hardly at all."

What the consortium partners Shell-Petronas-IOC have successfully bid for is the licence to develop and operate the Magnoon Field. They do not own the oil the consortium will be paid $1.39 per barrel produced provided that they meet production targets, the price of oil per barrel today is $69.52. The Iraqi Government who owns the oil therefore get the lions share.

The Iraqi Government retains an interest and a voice on field decisions via it's 25% share.

Wonder what happened to all those on this forum who were previously yelling about the US stealing Iraq's oil?? Oh yes they have now shifted tack and it's the US and UK in Afghanistan to control non-existent oil & gas pipelines in order to steal someone else's oil, or gas, as the case may be.