Bloomberg reported that in November Iraq will sign gas and oil exploration contracts with a variety of companies, including Russia’s LUKOIL (LSE:LKOH) and Bashneft (OTC Pink:BNSFF), Pakistan Petroleum Ltd. (OTC Pink:PKKKY), Japan’s Inpex Corp. (TSE:1605) and London’s Premier Oil plc (LSE:PMO).
As quoted in the market news:
Iraq will sign an agreement on Nov. 5 with Pakistan Petroleum (PPL) for natural gas exploration in Block 8 in eastern Iraq, Sabah Abdel Kadhim, deputy head of the licensing department, said in a telephone interview in Baghdad today. The ministry will sign oil-exploration accords on Nov. 7 with Lukoil and Inpex for Block 10 in southern Iraq, and on Nov. 8 with Bashneft and Premier Oil for Block 12, he said.
The government awarded blocks 8, 9 and 10 when it offered 12 areas to bidders in an energy auction in May. It agreed in June to sell rights to Block 12 to Bashneft.