Oil Search makes Iraqi incursion

OIL Search's Iraqi subsidiary has received approval from the Kurdistan Regional Government in Iraq to take a 60% stake in the Taza Block, which is on-trend with a 1 billion barrel field.

29 July 2011
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The company will act as operator, while ShaMaran Petroleum BV holds a 20% stake and the KRG holds the remaining 20%, with costs carried by the two private companies.

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