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Kuwait Energy, Dragon secure Iraqi oil exploration deal
- Iraq: Tuesday, January 29 - 2013 at 05:31
Kuwait Energy and UAE-based Dragon Oil have signed an agreement with the Iraqi government to explore a 900 sq km block thought to contain oil in south Iraq, near the country's border with Iran, AFP has reported. Kuwait Energy has a 70% stake in the project, with Dragon Oil holding the remainder. The companies have agreed to be paid a service fee of $6.24 per barrel of oil equivalent eventually extracted.
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