Iraqi Block 9 Service Contract Signed

Dragon Oil announced Monday that a consortium it is part of has signed the final service contract for Iraqi Exploration Block 9 with the Iraqi Ministry of Oil.

Dragon bid jointly with Kuwait Energy in respect of Block 9 and the signing of the contract will see Kuwait Energy as the operator with a 70-percent contractor share. Dragon Oil holds the remaining 30 percent.

Block 9 is located in the province of Basra. It covers an area of approximately 345 square miles. Dragon confirmed that if the block is found to be commercial during the five-year exploration period, the consortium is automatically eligible for 20-year development and production phases, extendable by a further five years.


 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Tower Resources Director Retires (Feb 5)
 -  Petsec Energy Acquires 100% Stake in D... (Feb 5)
 -  BG Group's Earnings Drop (Feb 5)
 -  Wood Mac: Producers Continue to Run Lo... (Feb 5)
 -  Greka Warns of Cost Base Reduction in ... (Feb 5)


Most Popular Articles

From the Career Center
Jobs that may interest you
Chief Financial Officer - Oil & Gas Sector
Expertise: Executive|Financial Analyst
Location: San Antonio
 
Business Development Director- Turbines- South/Central America
Expertise: Business Development
Location: Florida, FL
 
Business Development Representative
Expertise: Business Development|Marketing
Location: Hanover, MD
 
search for more jobs

Brent Crude Oil : $34.06/BBL 1.16%
Light Crude Oil : $30.89/BBL 2.61%
Natural Gas : $2.06/MMBtu 4.56%
Updated in last 24 hours