كوردى العربية
HyperLink
Barzani denounces detonation holy places in Mosul                      Bomb exploded in Najaf                      Number of MPs determines the volume of the political bloc, legal expert                      Zarqawi Unit Commander killed near Fallujah                      2 major Da'ish leaders killed in Mosul'                     
Governorate News Weather status Search Login
Aswat Al Iraq /  Economy ,  Baghdad
Iraq inks exploration deal with Lukoil-led group
7/18/2012 11:35 AM

BAGHDAD / Aswat al-Iraq: A consortium led by Russia's Lukoil and including Japan's Inpex signed a preliminary contract with Iraq's Oil Ministry yesterday to explore for oil, a spokesman said.
 
The deal is the third to be signed by the Oil Ministry in as many days with foreign firms to explore for oil and gas across the country, with a fourth set to be inked soon, as Iraq looks to ramp up its already-high oil reserves and boost gas production to support its struggling power sector. 
 
The service contract is one of three that the Iraqi Oil Ministry awarded at the auction.
Kuwait Energy, Dubai-based Dragon Oil and Turkiye Petrolleri signed an agreement on Monday to explore for crude in southern Iraq along the Iranian border for a fee of $6.24 a barrel.
Pakistan Petroleum signed an agreement two days ago to search for natural gas in block 8 in eastern Iraq for a fee of $5.38 a barrel.
 
"The Ministry of Oil signed a preliminary agreement with a consortium made up of the Russian company Lukoil and the Japanese company Inpex Corp,- ministry spokesman Assem Jihad said in a statement.
 
Lukoil holds 60 per cent of the partnership and Inpex the balance.
The ministry said the contract would be passed on to the cabinet for approval. 
 
In late May, Lukoil and Inpex won a contract for a 5,500 square-kilometre (2,100 square mile) plot covering Muthanna and Thi-Qar provinces in the south, believed to hold oil, with an offer of $5.99 per barrel of oil.
 
SH (TI)/SR


Number of Reads: 6496
Print version  

Bookmark and Share


 


   
  Copyright © 2010 Aswat Al Iraq Developed by: SoftMax