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Turkish TPAO receives licence to develop oil fields in Iraq

Oil&Gas Materials 30 May 2012 16:15 (UTC +04:00)

Azerbaijan, Baku, May 30 /Trend A.Taghiyeva/

A consortium of Turkish TPAO, Kuwait Kuwai Energy and Arab Dragon Oil (led by the Turkish company) signed an agreement for the exploration of oil fields in the fourth round of licences for exploration and development of hydrocarbon fields in Iraq with the Iraqi Oil Ministry, a source in the government of Iraq told Trend on Wednesday.

The licence was granted for the development of oil fields in Basra province covering 900 square kilometres and will allow the consortium to develop the field for 20 years.
Twelve areas of exploration both oil and gas will be presented in the various provinces of the country as part of the tender.

As previously mentioned, a spokesman for the Iraqi Oil Ministry Asym Jihad told Trend, eight of the units will be gas fields, four to be oil.

Gas fields are as follows. The first area of exploration is located in the province of Nineveh and includes an exploration area of 2.7 square kilometres. The second is located in Anbar province, an area of 2.8 square km, the third area of exploration is in Anbar province area covering 2.7 square km, the fourth area is on the border provinces of Anbar and Nineveh, an area of 2.7 square km. The fifth area is also located in Anbar province and has an area of 2.8 square kilometres.

The sixth area is located on the border provinces of Najaf and Anbar, an area of 2.9 square kilometres. The seventh area is located in the province of Cadiz, Najaf, Babil and Muthanna. This region has an area of 2.6 square kilometres. The eighth area is located in the provinces of Diyala and Wasit, has an area of 2.6 square kilometres.

According to Jihad, the oil fields include the following areas. The first oil block located in the province of Basra is an area of 1.9 square kilometres. The second is located in the provinces of Muthanna and Dhi Qar, and has an area of 1.5 square km and the third oil block is located in the provinces of Najaf and Muthanna area of 2.8 square kilometres. The fourth unit also has an area of 2.8 square kilometres and is located in the provinces of Najaf and Muthanna.

According to BP, Iraq's proven oil reserves as of early 2011 amounted to 115 billion barrels. The country ranks third in OPEC after Saudi Arabia and Iran.

The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in the south of the country. About 80 per cent of oil extracted in Iraq, is exported.

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