Middle East Economic Survey

VOL. LIII

No 43

25-Oct-2010

IRAQ

Genel Enerji Sells Stake In Iraqi Kurdistan Assets To Koreas UI Energy

Turkeys Genel Enerji has agreed to sell to South Koreas UI Energy Corporation for $175mn stakes in three concessions in Iraqi Kurdistan in which it holds shares. Genel on 15 October said it would sell a 5% stake each in the Dohuk and Tawke production sharing contracts (PSCs), in which Genel holds 40% and 25% respectively, and that it would sell 10% of the...