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Kuwait Energy-led group wins block 9 in Iraq auction
May 30, 2012 / 7:37 AM / 5 years ago

Kuwait Energy-led group wins block 9 in Iraq auction

BAGHDAD, May 30 (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)

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