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Wednesday, August 1, 2012

''Total signs oil deal in Kurdistan region of Iraq''

From Al Arabiya

''French oil company Total has bought a 35 percent stake in two exploration blocks in the Kurdistan region of Iraq, risking the wrath of the Iraqi government which has tried to bar companies from dealing directly with the sem--autonomous region.

Total, which is following U.S. rivals into the area, said it bought stakes in the Harir and Safen blocks from U.S. peer Marathon Oil, ignoring an earlier veiled warning from Iraq to refrain from deals with the region in the north of the country without the approval of central government in Baghdad.''

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