Saturday, December 12, 2009
BAGHDAD - Anatolia News Agency
The Turkish Petroleum Corporation, or TPOA, won the tender for the Badra oil field in Kut in Iraq's second oil licensing round as part of the international consortium lead by Russia's Gazprom.
The Consortium brings together Russia's Gazprom with 40 percent, Korea's Kogas with 30 percent, Malaysia's Pertonas with 20 percent and Turkey's TPOA with 10%.
The consortium committed to produce a minimum of 80,000 barrels daily, grant $ 100 million to the Iraqi Ministry of Petroleum, investing $ 100 million for the development of the oil field and promised a price of $ 5.5 per barrel.
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