Iraqi Cabinet Approves Akkas deal

Iraq's cabinet has approved a contract with South Korea's KOGAS to develop the Akkas [Ukaz] gas field in western Anbar province, the country's largest, according to a report from Reuters.

The cabinet approved the deal on Sept. 13 and the source said it will be signed Oct. 15.

"Final signature of Akkas gas deal with Kogas will take place Oct. 13," Sabah Al Saidi, deputy head of the Iraqi Oil Ministry's petroleum contracts and licensing directorate, told Dow Jones Newswires.

Iraq asked KOGAS to develop Akkas on its own after Kazakh company KazMunaiGas pulled out.

(Sources: Dow Jones, Reuters, AKnews)

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