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Acquisitions and Divestitures News in Iraq

Marathon Oil Closes Kurdistan Divestiture
6/2/2019 - Marathon Oil has closed on the sale of its 15% participating interest in the Atrush Block in Kurdistan, where first quarter 2019 production averaged 2,400 net barrels of oil equivalent per day (100% o...
ShaMaran Completes Acquisition and Provides Production Update
5/31/2019 - ShaMaran Petroleum Corp. (ShaMaran) is pleased to announce the completion of its acquisition of an additional 7.5% participating interest in the Atrush Block, previously announced on April 3, 2019, br...
Genel Energy Provides Update on Sarta and Qara Dagh
2/28/2019 - Genel Energy plc has announced that approval has been given by the Kurdistan Regional Government ('KRG') regarding the acquisition of stakes from Chevron in the Sarta and Qara Dagh blocks, in the Kurd...
Genel Energy Acquires Stakes in Chevron Operated Blocks in the KRI
1/21/2019 - Genel Energy plc has reached agreement to acquire stakes in the Chevron operated Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq. ...
ShaMaran Acquires Larger Stake in Atrush Block
11/18/2018 - ShaMaran Petroleum Corp. refers to the agreement announced on June 4, 2018 whereby the Company’s wholly owned subsidiary, General Exploration Partners, Inc. (“GEP”), agreed in a sale and purchase agre...
Kuwait Energy Appoints Adviser as It Looks to Sell Iraq Asset
5/20/2018 - Kuwait Energy, an independent oil and gas company, has hired investment bank Perella Weinberg Partners (PWP) to advise it on options that could include selling all or part of its Block 9 asset in sout...
Shell to Sell West Qurna 1 Oilfield Stake to Itochu Corporation for $406M
Shell to Sell West Qurna 1 Oilfield Stake to Itochu Corporation for $406M 3/23/2018 - Shell EP Middle East Holdings B.V. has agreed to sell the entire share capital of Shell Iraq B.V (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of...
Saudi's SABIC in Talks to Join Shell in Iraq's Nebras Petchem Project
2/27/2018 - Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company, is in talks to become a partner in Iraq’s Nebras petrochemical project, an advisor to Iraqi Prime Minister Haide...
Iraq Oil Ministry Starts Taking over Majnoon Oilfield Operations
12/21/2017 - Iraq’s oil ministry said it had started to take over operations of Majnoon oilfield from Royal Dutch Shell and planned to lift output in future. The ministry said it had formed a management team to ha...
Iran Signs Oil Swap Deal with Iraq Soon
12/3/2017 - Iran expects to sign a contract with Iraq within the next few days based on which it would swap the country’s oil produced in its Kirkuk province with equal amounts in the Persian Gulf. The announceme...
Shell to Hand Over Iraq's Majnoon Oilfield by End June 2018
11/8/2017 - Oil major Royal Dutch Shell has agreed to exit the Majnoon oilfield and hand over its operation to the state-run Basra Oil Co. by the end of June 2018, two oil officials close to the deal said. ...
Shell to Withdraw from Iraq's Majnoon Oilfield
9/12/2017 - Royal Dutch Shell is seeking to sell Iraq’s Majnoon oilfield and the oil ministry has started preparations to finalize its exit, according to an oil ministry letter and oil officials. A letter signed ...
DNO Increases Stake at Tawke Oilfields in Kurdish Region of Iraq
8/24/2017 - DNO ASA, the Norwegian oil and gas operator, has been assigned the 20 percent interest in the Tawke license held by the Kurdistan Regional Government as part of a landmark settlement of outstanding re...
Iraq Seeks Foreign Partner for Second Gas Plant
1/31/2017 - Iraq is looking for foreign partners to build and operate a second venture to process gas released as a by-product of oil production in its southern fields, state-run South Gas Company said. ...
Sinopec Said to Eye Takeover of Kurdistan’s Gulf Keystone
12/13/2016 - China Petroleum & Chemical Corp., the world’s biggest refiner, is weighing a takeover of beleaguered Kurdish oil producer Gulf Keystone Petroleum Ltd., people familiar with the matter said. ...
Exxon Pulls out of Three Exploration Blocks in Kurdistan
12/6/2016 - Exxon Mobil has pulled out of half of the six exploration blocks it operated in the Kurdistan region, the Iraq Oil Report reported. ...
Shell Considering Selling its Iraq Oil Assets
11/28/2016 - Royal Dutch Shell is considering selling out of its oil fields in Iraq as part of its global $30 billion asset disposal program, industry sources said. Shell is seeking to slim down its vast oil and g...
MOL, Gulf Keystone Hand Back Akri-Bijeel Stake to KRG
1/11/2016 - Gulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, is making reference to announcement by MOL Hungarian Oil and Gas Plc., operator of the Akri-Bijeel...
Genel Energy Sells 20% Interest in Chia Surkh
10/29/2015 - Genel Energy sells 20% participating interest in the Chia Surkh Production Sharing Contract (‘PSC’) to Petoil. As consideration for the sale of the 20% interest, Petoil will carry Genel’s share of ...
Kuwait Energy Awarded EGPC 10% Interest in Block 9
Kuwait Energy Awarded EGPC 10% Interest in Block 9 10/2/2015 - Kuwait Energy, an independent oil and gas company with assets across the MENA region is pleased to announce the completion of the assignment of 10% participating interest in Block 9, to Egyptian Gene...

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