Iraq signed a deal with Ukrainian oil and gas exploration company Ukrzemresurs to develop Akkas gas field in the Western province of Anbar, the oil ministry said in a statement.
The deal aims to produce 100 million standard cubic feet (mscf) per day in the first two years, rising to 400 mscf in 4 years.
South Korea's KOGAS has agreed to relinquish the Akkas field's development license to Ukrzemresurs in a signing ceremony on Wednesday, said the statement.
KOGAS signed a deal in 2011 to develop the Akkas gas field - Iraq's largest - but development operations had been delayed due to security instability in the area and contractual disagreements, said field officials.
The Akkas natural gas field, located near Iraq's border with Syria, has estimated gas reserves of 5.6 trillion cubic feet. -Reuters