Iraq and China finalize oil deal

BAGHDAD, Iraq (AP) -- Iraq and China have a deal.

They've signed the final agreement on a $3 billion deal to develop an oil field south of Baghdad over a 22-year period.

The initial agreement was signed in Beijing in August. It restored an agreement dating back to the Saddam Hussein era that was canceled after the U.S.-led invasion.

An official in Baghdad says the agreement was finalized today at a ceremony there.

It's the first oil deal from the Saddam era to be honored by the new Iraqi government.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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