Total Close to Securing Oil-and-Gas Exploration Rights in Iraqi Kurdistan: Report

[JWing]

January 29, 2012 2:11 PM GMT
French oil firm Total is close to securing exploration rights over several oil-and-gas blocks in Iraq (http://www.ibtimes.com/topics/detail/246/iraq/)i Kurdistan, the Sunday Times reported.




The paper said a deal could be announced within weeks, although it also cited sources close to the situation as saying that the deal could still fall apart.
Industry sources told Reuters that Total had been visiting the region ahead of a possible entry.
Total could not immediately be reached for comment.
Many big Western oil companies have been mulling an entry into Kurdistan, either by buying existing players in the region, many of whom are small independents, or by purchasing new licensing blocks.
The Exxon Mobil (http://www.ibtimes.com/topics/detail/325/exxon-mobil/) Corp., the first oil major to move into Kurdistan, is quietly mobilizing in Arbil, in the heart of the region, Reuters reported last week



http://www.ibtimes.com/articles/289262/20120129/total-exploration-rights-oil-gas-iraq-kurdistan.htm

[Hue Mi]

.
Kurdistan region of the process of signing a contract with Total Exploration (http://translate.google.com/translate?hl=en&ie=UTF8&sl=ar&tl=en&u=http://www.ipairaq.com/index.php%3Fname%3Dinner%26t%3Dpolitics%26id%3D502 48)

Date: Monday, 01/30/2012 18:32
BAGHDAD - A citizen

Newspaper «The Sunday Times» British that the French oil company Total, close to concluding an agreement for exploration rights for oil and gas in many areas in the province of Kurdistan.

The newspaper said that the deal could be announced within the coming weeks, according to the quoted «Reuters» for the newspaper.

Sources in the oil sector, the Total visited the region and I checked the oil and gas fields, in order to sign several contracts to explore for oil and gas, but not be reached for immediate comment from Total.

And many companies Western oil major to carry out activities in Kurdistan, either through purchase of companies already operating in the region and most of them small, independent companies or by buying shares in the oil and gas fields.

Hits: 73 - Comments: 0