OMV to Hand Back Blocks to KRG

By John Lee.

According to Iraq Oil Report, Austria’s OMV will hand back two exploration blocks to the Kurdistan Regional Government.

In its latest trading statement, OMV said it had written off exploration expenses at the “unsuccessful wells and exploration licenses” relating to the Mala Omar and Shorish blocks.

The company has failed to find oil or gas since signing these exploration contracts five years ago.

(Sources: Iraq Oil Report, OMV)

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