Iraq Approves Oil Exploration Deal with Kuwait Energy

Source: www.gulfoilandgas.com 1/13/2013, Location: Middle East

The Iraqi ministry of oil declared for the date to sign the final form of the contract to rehabilitate the 9th exploratory area, and the date will be in the 27th of January 2013, and it is worthy to mention that, the council of ministers agreed for the contract in January the 8th of 2013.

Mr. Assim Jihad the spokesman of the oil ministry said that, the oil ministry will sign the contract with the consortium of Kuwait Energy & Dragon the Emirati whom wan the contract in the 4th licensing round of the exploratory areas. And this contract signature will be the fourth for the areas (8, 9, 10 & 12), which was offered, in the 4th licensing round.

It is worthy to mention that the 9th area 900 square kilometers with carbonic prospects (oil) is located in Basra governorate and the consortium offered 6, 24 dollars per barrel.


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