ConocoPhillips-Led Consortium to Explore Akkas Gas Field

By John Lee.

The Iraqi Minister of Oil has been authorised to sign a memoranda of understanding (MoU) with a consortium comprising US-based companies ConocoPhillips, TI Capital and Novaterra Energy.

Cabinet approved the agreement, which involves assessing the exploration and development potential at the Akkas gas field (pictured) in western Iraq, and surrounding areas.

Earlier this month, ConocoPhillips has agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited (BP ECKL) from BP, supporting the redevelopment of four producing oil fields in the Kirkuk area of northern Iraq.

(Source: Prime Minister's Office)

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