| Iraq signs gas deal with Pakistan Petroleum |
BAGHDAD Iraq signed an initial gas exploration contract with Pakistan Petroleum on Sunday as part of its push to attract more foreign investment to develop its energy sector following years of war and sanctions.
“We are now initialling a contract between the Iraqi oil ministry and Pakistan Petroleum,” said Abdul Mehdi Al Amidi, the head of the ministry’s contracts and licensing department.
The contract gives the Pakistani company the right to explore gas block 8 in Diyala and Wasit provinces in eastern Iraq, as reported by Reuters last month.
Iraq will also sign an initial contract with a consortium led by Kuwait Energy for oil block 9 on July 16 and a deal to explore oil block 10 will be signed with a group led by Russia’s Lukoil on July 17.
Referring to deals, Amidi said: “We will send all these agreements to the cabinet for approval, and then we will sign the final contract. That will take about one month.”
Agencies
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