Turkey's TPOA wins Iraqi tender for Badra oil field

Turkish Petroleum Corporation won the tender for the Badra oil field in Kut in Iraq's second oil licensing round.

Turkey's TPOA wins Iraqi tender for Badra oil field

Turkish Petroleum Corporation (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 (40%), Korea's Kogas (30%), Malaysia's Pertonas (20%) and Turkey's TPOA (10%).

The consortium committed to produce a minimum of 80 thousand barrels daily, grant USD 100 million to the Iraqi Ministry of Petroleum, investing USD 100 million for development of the oil field and promised a price of USD 5.5 per barrel.

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Last Mod: 12 Aralık 2009, 17:13
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