Russia's Bashneft Wins Contract To Explore For Oil In Southern Iraq
From Business Standard
Iraq has awarded Russian oil giant Bashneft rights to explore for oil in the south of the country after nearly one month of negotiations, a senior Baghdad official said on Sunday, bringing the total number of Russian companies with oil deals in Iraq to three.
Bashneft and Vietnam”s PetroVietnam were part of a consortium led by UK’s Premier to bid for Block 12 in Iraq”s fourth energy bidding round in May. The consortium rejected the government”s proposed fee of $5 per barrel of oil equivalent as too low and sought $9.85 for each barrel.