UPDATE 1-Total set to sign Iraq oil field deal-CEO

(Updates with background)

JEDDAH, Saudi Arabia, June 22 (Reuters) - Total (TOTF.PA) Chief Executive Christophe De Margerie said on Sunday the company is ready to sign an oil field deal with Iraq, one of six major new contracts marking the return of Western firms.

"We are ready to sign," De Margerie told Reuters on the sidelines of an emergency oil summit in the Saudi Red Sea city. Iraq's oil ministry has said it will formally announce the names of foreign oil majors who have been awarded deals on June 30.

De Margerie gave no further details about the deal. Total together with Chevron (CVX.N) is negotiating a technical service contract to help develop the West Qurna oil field in Iraq, which holds the world's third-largest proven oil reserves.

Iraq is negotiating six short-term service contracts with international oil companies, each contract worth about $500 million and aimed at boosting production by 100,000 barrels per day.

Five of the deals under discussion are with oil majors Royal Dutch Shell (RDSa.L), Shell in partnership with BHP Billiton (BHP.AX), BP (BP.L) and Exxon Mobil (XOM.N), plus Chevron and Total.

Iraq is also in talks with a consortium of Anadarko (APC.N), Vitol and Dome for a sixth contract on the Luhais field. (Reporting by Simon Webb; Editing by Anshuman Daga)