Chevron To Bid $200 Million For Kurdish Oil Blocks

[kirkuki]

By Emma Charlton - Jul 15, 2012 8:13 PM ET

Chevron Corp. (CVX), the second-largest U.S. energy company, may buy the rights to two oil exploration zones in Kurdistan region from Reliance Industries Ltd. (RIL), the Sunday Times reported, without saying where it got the information.
The deal, which may be announced this week, is worth at least $200 million, the newspaper reported.
Total SA (FP) may buy a stake in oil fields in the region from WesternZagros Resources Ltd. (WZR), the Sunday Times said.

Chevron to Bid $200 Million for Kurdish Oil Blocks: Sunday Times - Bloomberg

 

[there4eyeM]

So, more or less four months' net profit at current rates.

 

[kirkuki]

^^ ??

 

[Katzndogz]

So?

Good, I'm glad Chevron can make that bid. There is something really peculliar about someone who thinks that the lowest bidder should be awarded the merchandise.

 

[High_Gravity]

Good, I like the Kurds.

 

[kirkuki]

Good, I like the Kurds.

we love you too

 

[kirkuki]

BAGHDAD, — Chevron Corp is buying into blocks in Iraq's Kurdistan, according to two oil executives involved in the Kurdish region, as the second-largest U.S. oil company follows Exxon Mobil Corp into an area where oil rights are a subject of fierce dispute.

Chevron is purchasing 80 percent of the Sarta and Rovi blocks from India's Reliance Industries Ltd, according to the two executives, who requested anonymity.

The deal was signed in the last few days by both companies, said one person close to the Kurdistan Ministry of Natural Resources. Reliance already holds the oil licenses in question. WSJ reported.

It is a foray into Iraq for Chevron after the California oil company was not involved in contracts awarded in Iraq's four licensing rounds. Austria's OMV AG holds the other 20 percent interest in Sarta/Rovi.

Exxon caused a stir in Baghdad last year by signing an exploration deal with the Kurdistan Regional Government in the north, which the central government deemed illegal.

Just last month, Iraq asked U.S. President Barack Obama to stop Exxon from exploring in the autonomous region because it could have dire consequences for the country's stability.

Chevron declined to comment on Wednesday, saying that it continued to be interested in pursuing opportunities that "help Iraq achieve its objectives for the oil and gas industry."

Last November's signing of the Exxon exploration deal with Iraqi Kurdistan marked the first time a major oil company had dealt directly with the Kurds in northern Iraq.

Kurdistan, with its own government, has clashed with Baghdad over autonomy and oil rights. It halted its crude exports in April after accusing the central government of not making due payments.

Another U.S. oil major now enters the mix through the deal with Reliance, which Britain's Sunday Times newspaper said was thought to be worth about $200 million in a report of the talks.

Chevron already has a history with the Indian energy conglomerate, which is controlled by Asia's second-richest person, Mukesh Ambani. Chevron bought Reliance's partner in U.S. shale gas, Atlas Energy, in a 2011 deal that the Indian company said undervalued the assets.

And in 2009, Chevron sold back a 5 percent stake in Reliance's Jamnagar, the world's largest refinery complex.

Chevron confirms Iraq's Kurdistan oil blocks purchase, sees "promise" there

 

[High_Gravity]

BAGHDAD, — Chevron Corp is buying into blocks in Iraq's Kurdistan, according to two oil executives involved in the Kurdish region, as the second-largest U.S. oil company follows Exxon Mobil Corp into an area where oil rights are a subject of fierce dispute.

Chevron is purchasing 80 percent of the Sarta and Rovi blocks from India's Reliance Industries Ltd, according to the two executives, who requested anonymity.

The deal was signed in the last few days by both companies, said one person close to the Kurdistan Ministry of Natural Resources. Reliance already holds the oil licenses in question. WSJ reported.

It is a foray into Iraq for Chevron after the California oil company was not involved in contracts awarded in Iraq's four licensing rounds. Austria's OMV AG holds the other 20 percent interest in Sarta/Rovi.

Exxon caused a stir in Baghdad last year by signing an exploration deal with the Kurdistan Regional Government in the north, which the central government deemed illegal.

Just last month, Iraq asked U.S. President Barack Obama to stop Exxon from exploring in the autonomous region because it could have dire consequences for the country's stability.

Chevron declined to comment on Wednesday, saying that it continued to be interested in pursuing opportunities that "help Iraq achieve its objectives for the oil and gas industry."

Last November's signing of the Exxon exploration deal with Iraqi Kurdistan marked the first time a major oil company had dealt directly with the Kurds in northern Iraq.

Kurdistan, with its own government, has clashed with Baghdad over autonomy and oil rights. It halted its crude exports in April after accusing the central government of not making due payments.

Another U.S. oil major now enters the mix through the deal with Reliance, which Britain's Sunday Times newspaper said was thought to be worth about $200 million in a report of the talks.

Chevron already has a history with the Indian energy conglomerate, which is controlled by Asia's second-richest person, Mukesh Ambani. Chevron bought Reliance's partner in U.S. shale gas, Atlas Energy, in a 2011 deal that the Indian company said undervalued the assets.

And in 2009, Chevron sold back a 5 percent stake in Reliance's Jamnagar, the world's largest refinery complex.

Chevron confirms Iraq's Kurdistan oil blocks purchase, sees "promise" there

Wow Kurdistan is making moves right around Baghdad, they don't even need them. The Kurds are ready for their own country.

 

[kirkuki]

we dont need them , we never have, even before 2003 we were not dealing with iraq so imagine after 2003

 

[kirkuki]

Chevron in - check
Exxon in - check
Total coming - check
statoil coming - check

now die in jealousy ekrem you stooge , kurdistan oil is not kurdistanis , turks can buy it from us but you will get 0 barrels for free you idiot , nothing is for free specially for genocidal turks like yourself, who loves oppressing kurds , the era has changed turkish strategy for another ottoman era is canceled with another Kurdistan in syria been formed

 

[High_Gravity]

we dont need them , we never have, even before 2003 we were not dealing with iraq so imagine after 2003

You are right.