In 2018, ITOCHU has acquired a 19.6% stake in the Technical Service Contract for the West Qurna 1 Oil Production Project through CIECO West Qurna Limited. The participating interest of ExxonMobil, PetroChina, ITOCHU, Pertamina, Oil Exploration Company is 22.7%, 32.7%, 19.6%, 20% and 5%, respectively.
The West Qurna 1 oil field is located in the southern part of Iraq and is operated by ExxonMobil. The field is one of the largest oil fields in the world with expected recoverable reserves of over 20 billion barrels.
