BAGHDAD (Reuters) - A consortium led by Kuwait Energy with Turkey’s TPAO and Dubai-based Dragon Oil won a deal on Wednesday for exploration of Block 9 in Iraq’s fourth energy auction, the oil ministry said.
The 900-square km block in southern Basra province is primarily an oil area. The group proposed a remuneration fee of $6.24 per barrel of oil equivalent.
Kuwait Energy would hold 40 percent of the deal, TPAO 30 percent and Dragon 30 percent, the ministry said.
Reporting by Ahmed Rasheed; writing by Patrick Markey; editing by James Jukwey