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French oil firm Total close to securing Iraqi Kurdistan oil
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French oil firm Total close to securing
Iraqi Kurdistan oil right
29.1.2012 |
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January 29, 2012
LONDON, — French oil firm Total is
close to securing exploration rights over several
oil and gas blocks in Iraqi 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, by either buying existing
players in the region,www.ekurd.net
many of whom are small independents, or by buying
new licensing blocks.
Exxon Mobil, the first oil major to move into
Kurdistan, is quietly mobilising in Erbil, at the
heart of the region, Reuters reported last week.
The Exxon deal has been criticised by the Baghdad
government, which has challenged the regional
government's right to issue licences.
Copyright ©, respective
author or news agency,
Reuters
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