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BAGHDAD, Nov 8: Iraq on Thursday signed a deal with Russia’s Bashneft and Britain’s Premier Oil to explore an area believed to hold oil, the latest step in Baghdad’s efforts to boost its role as a global energy supplier.
Under the contract, the two firms must invest at least $120 million to explore the 8,000-square-kilometre (3,100 square mile) block covering the provinces of Muthanna and Najaf in south Iraq.
The agreement is the third to be finalised this week, after similar exploration deals with a consortium of Lukoil and Inpex on Wednesday, and with Pakistan Petroleum on Monday.—AFP
