LONDON, Oct 16 (Reuters) - BP Plc and China's CNPC will next week unveil a strategic alliance to developoil resources in Iraq and other regions, industry sources saidon Friday.
The deal, one of several high profile deals to be signedduring a visit by Chinese President Xi Jinping to London, willaim to bolster cooperation between the two companies in Iraq,where they are developing the giant Rumaila oilfield.
Rumaila, in southern Iraq, is the world's second largestoilfield and produced 1.34 million barrels per day in 2014,according to BP's website.
The two companies will also seek to expand into new jointventures in other parts of the world, according to the sources.No clear production or investment targets are expected to beincluded in the deal, they said.
State-owned China National Petroleum Corp is Asia's largestoil producer and parent of PetroChina Co Ltd.. (Reporting by Ron Bousso, editing by William Hardy)