CLARIFICATION: 11/30/11, 8:35 a.m., EST. The titles of Shell in-house lawyers Keith Rudduck and Peter Rees have been added to the third paragraph of this story.

In one of the largest deals involving Iraq’s ailing energy sector to be signed in recent years, Royal Dutch Shell and Mitsubishi have teamed up for a $17 billion project to develop natural gas from the country’s oil fields over the next 25 years.

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