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PPL PPL Corporation

32.32
0.03 (0.09%)
17 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
PPL Corporation NYSE:PPL NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.03 0.09% 32.32 32.78 32.30 32.35 4,053,679 01:00:00

Iraq Initially Inks Deal With Kuwait Energy-Led Group - Official

16/07/2012 11:53am

Dow Jones News


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By Hassan Hafidh

Iraq's oil ministry Monday initialed a deal with Kuwait Energy-led group to explore for gas and oil at an exploration block in southern Iraq, an Iraqi oil ministry official said.

The initial contract was signed in Baghdad by head of the PCLD Abdul Mahdy al-Ameedi for Iraq and a senior executive for Kuwait Energy.

The contract, however, is pending the approval of the government, the official said.

Kuwait Energy and its partners state-owned Turkish Petroleum Corp., or TPAO, and United Arab Emirates-based Dragon Oil PLC (DRS.DB) were awarded Block 9 located in Basra near the Iranian border at the country's fourth bidding round held in May this year.

Baghdad signed Sunday a deal with Pakistan Petroleum to explore Block 8 located in Diyala and Wasit governorates in central Iraq. Russia's OAO Lukoil Holdings (LKOH-RS) and its partners will sign Block 10 Tuesday July 17.

Kuwait Energy has a 40% stake in the consortium, Dragon Oil, and Turkey's TPAO, have 30% each.

Write to Hassan Hafidh at hassan.hafidh@dowjones.com


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