By John Lee.
Chevron has become the latest member of the Iraq Britain Business Council (IBBC), joining 57 other world- and region-leading organisations that form IBBC’s membership.
The company operates and has an 80 percent interest in the Sarta production-sharing contract (PSC) and the Qara Dagh PSC (pictured). The two blocks cover a combined area of 279,000 net acres (1,129 sq km).
In early 2016, it completed a second exploration well in the Sarta Block, and more evaluation of the block is planned.
For the Qara Dagh PSC, the results from seismic acquisition and evaluation in 2015 improved understanding of the prospects, and it is evaluating the next steps.
(Sources: IBBC, Chevron)