UK oil firm in Iraq deal

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Mesopotamia Petroleum Company (MPC) yesterday became the first UK company to sign a joint venture with the Iraqi Ministry of Oil since the fall of Saddam Hussein in 2003. The partnership will drill new wells to help the country meet its target to more than double hydrocarbon production by 2013. David Miliband, the Foreign Secretary, said: "This is an important signal of the long-term commitment the UK has to Iraq in terms of trade, commerce and economic co-operation." MPC is 32 per cent owned by Midmar Energy.