Royal Dutch Shell, Europe's largest oil company, and Malaysia's Petronas signed a final contract on Sunday to develop Iraq's Majnoon oilfield, one of the world's biggest, Reuters reported. Shell and Petronas won the rights in an auction held in Baghdad in December for the 12.6 billion barrel field in southern Iraq. The deal was signed at Iraq's Oil Ministry in the presence of Iraqi Oil Minister Hussain al-Shahristani, Shell's chief executive, Peter Voser, and a vice president of Shell Gas and Power, Mounir Bouaziz.