IRAQ

 

Total Buys Stake In Third KRG Block

Total has bought a stake in a third production sharing contract (PSC) in Kurdistan, despite warnings from Baghdad against investment in the area controlled by the Kurdistan Regional Government (KRG). Canada’s ShaMaran Petroleum Corporation announced on 20 August that it had sold its 20% participating interest in the Taza PSC to a subsidiary of Total for a cash sum of $48mn plus reimbursement for costs incurred...