IRAQ

 

Heritage Sells Miran Block Equity To Partner Genel

UK independent Heritage Oil announced on 21 August the sale of a 26% interest in the Miran block production sharing contract (PSC) in Kurdistan to license Anglo-Turkish partner Genel Energy for $156mn in cash plus a $294mn loan. Following the sale, Heritage will hold 49% equity and Genel 51%. The companies will now act as joint operators. Heritage said the sale would fund the acquisition of an upstream...