Iraq approves three oil, gas contracts
- Iraq: Thursday, September 27 - 2012 at 09:16
A spokesman for the Iraqi government has said the cabinet has approved three oil and gas contracts awarded to foreign firms in a May auction as part of the country's drive to attract investment to develop its energy sector, Reuters has reported. The cabinet approved an initial gas exploration contract with Pakistan Petroleum for gas block 8 and another deal with a group led by Lukoil to develop Iraq's oil block 10, spokesman Ali al-Dabbagh said. It also approved an initial deal with Russia's Bashneft to develop Iraq's oil block 12, but decided to delay approval of a contract signed with a consortium led by Kuwait Energy for oil block 9, he said.
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