Korea's SK joins Oil Auction after Kurd Oilfield Sale

Reuters reports that Iraq has allowed the privately-owned Korean firm SK Innovation to bid in its fourth energy auction, after the company sold its stake in the Bazian block in Kurdistan.

The stake was sold to the state-owned Korea National Oil Corporation (KNOC), which was already barred from participating due to its stakes in both Bazian and Sangaw North.

American oil firm Hess Corp was also excluded from bidding for the similar reasons.

The next licensing round has been repeatedly delayed and is currently expected to take place May 30-31.

(Source: Reuters)

2 Responses to Korea's SK joins Oil Auction after Kurd Oilfield Sale

  1. Re da Caste 13th February 2012 at 01:00 #

    Exxon, Total, Shell and BP have already complained on their oil service agreements in southern Iraq and they will surely terminate their business there and fokus in Kurdistan production agreements. Shahristani and Luaibi may scream and shout out their indignation, but who cares?? It's time for Maliki to consider the situation and choose his friends, or leave. If not, the Kurds must leave and let the sunnis ans shias continue the fight.

  2. Re da Caste 20th February 2012 at 23:21 #

    "Kurdistan region has all the trappings of an independent state -- its own constitution, its own parliament, its own flag, its own army, its own border, its own border patrol, its own national anthem, its own education system, its own International airports, even its own stamp inked into the passports of visitors." Why should they bother Shahristani and Maliki? Just live the mess...