Iraq Signs Contract with Kuwait Energy for Siba Seismic

By John Lee.

Iraq’s Oil Ministry has signed a contract with Kuwait Energy to carry out a seismic survey at the Siba gas field in Basra province.

Kuwait Energy and Turkey’s TPAO won the Siba contract in October 2010, agreeing to produce 100 million standard cubic feet of gas a day at a price of $7.50 per barrel of oil equivalent.

TPAO has said the partners expect to invest $1 billion in the Siba field.

(Sources: AKnews, AIN, Ministry of Oil)

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