Middle East Economic Survey

VOL. XLIX

No 36

04-Sept-2006

IRAQ

Oil Search Farms Into Kurdistan Exploration Venture

Oil Search of Papua New Guinea announced on 30 August that it had acquired 20% of half-share of the stake held by Turkeys Petoil in the Bina Bawi exploration tenement in Iraqi Kurdistan. Oil Search has the option to convert its shareholding into a 10% interest in the field within one year. The remaining 50% stake in Bina Bawi is held by a subsidiary of Houston-based Prime Natural...