Kazakhstan's state fuel producer, KazMunaiGas EP JSC (RDGZ.KZ) has withdrawn from a deal to develop one of Iraq's largest gas fields near the border with Syria, a senior Iraqi oil official said Wednesday.
Kazakhstan's state fuel producer, KazMunaiGas EP JSC (RDGZ.KZ) has
withdrawn from a deal to develop one of Iraq's largest gas fields near the
border with Syria, a senior Iraqi oil official said Wednesday.
Iraq
awarded KazMunaiGas along with
South
Korea
's Korea Gas Corp (036460.SE),
known as Kogas, the deal in October 2010 to develop
Iraq
's
Akkas gas field but the signing of the initial contract was delayed twice due
to disputes with the provincial authorities of Anbar province where the field
is located.
"We received a letter from KazMunaiGas stating that they won't take part
in developing the field," said Abdul Mahdy al-Ameedi, head of the Oil
Ministry's Petroleum Contracts and Licensing Directorate.
Al-Ameedi said that the ministry might ask Kogas to develop the field alone or
invite another company to replace KazMunaiGas.
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