Marathon Acquires Positions in 4 Exploration Blocks in Kurdistan

Marathon Oil Corporation (NYSE: MRO) announced on Wednesday that it has acquired a position in four exploration blocks in the Kurdistan Region of Iraq.

The Company has signed production sharing contracts (PSCs) for operatorship and an 80 percent ownership in two open blocks northeast of Erbil – Harir and Safen.

The Kurdistan Regional Government will hold a fully carried 20 percent interest.

Additionally, Marathon has been assigned working interests (WI) in two blocks north-northwest of Erbil – Atrush (20 percent WI) and Sarsang (25 percent WI).

One Response to Marathon Acquires Positions in 4 Exploration Blocks in Kurdistan

  1. […] which is based in Houston in the United States, has acquired operating positions in four exploration blocks in the Kurdistan Region. Under production sharing contracts, the company has taken an 80 percent […]

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  1. KRG Hails Marathon Oil Deal | Iraq Business News - October 21, 2010

    […] which is based in Houston in the United States, has acquired operating positions in four exploration blocks in the Kurdistan Region. Under production sharing contracts, the company has taken an 80 percent […]