Iraq Signs Oil Deal With Russian Led Group

From The Seattle Times

BAGHDAD — Iraq’s Oil Ministry says it has finalized a deal with a consortium led by Russian oil giant Bashneft to search for oil in the country’s south.

Ministry spokesman Assem Jihad says Bashneft and its UK partner Premier will explore the 8,000-square-kilometer (3,100-square-mile) Block 12 , shared by the provinces of Muthana and Najaf. They will be paid US$5 for each barrel of oil equivalent.

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