Russia's TNK-BP, half owned by BP, has establish a joint venture to develop oil and gas fields in Iraq, TNK-BP said on Wednesday.
It said, it has signed an agreement with the Iraq Oil Company for Oil Investments (IOCOI) to establish the venture.
"The two companies will consider joint acquisition of fields with commercial reserves within Iraqi provinces," the Russian company said in a statement.
(Reporting by Vladimir Soldatkin)
( AFX News Limited )