Total moves in Kurdistan for Oil

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Total prepares to move into Iraqi Kurdistan-sources

Thu Feb 9, 2012 11:10am EST
* Total said in serious talks with KRG

* French major seeking to build on Iraq presence

* Exxon still silent on its Kurdistan deal

By Patrick Markey and Peg Mackey

BAGHDAD, Feb 9 (Reuters) - France's Total is preparing the ground to become the next oil major to move into Iraqi Kurdistan, negotiating over two blocks following Exxon Mobil's deal with the semi-autonomous region last year, Kurdish and industry sources said.

Any contract between Total and the Kurdistan Regional Government (KRG) risks exacerbating a feud between the Kurds and the Arab-dominated central government, which has already warned that Exxon's deal violates Baghdad's control over oil resources.

Since Kurdish officials announced the deal with Exxon last year, other majors have watched its outcome as they mull their own possible forays into Kurdistan or opportunities to snatch up smaller players already working there.

So far Total has signed no agreement, but KRG sources and oil executives say the French company has been in serious negotiations over two blocks, Pulkhana and Taza, which border disputed territories claimed by Baghdad and Arbil.

"The deal is very close, but Total may want to wait to see how things play out with Exxon," said one oil executive in Arbil who is aware of the talks.

more at the link: http://www.reuters.com/article/2012/02/09/iraq-total-idUSL5E8D952O20120209
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Marco G.

France's Total makes move in Kurdistan - Junior Oils to Appreciate

http://www.iraqenergy.org/news/?detailof=4454&content=Total-Makes-First-Move-Into-Iraqi-Kurdistan

excerpt below, for full news click on link above:

Energy News Update

Total Makes First Move Into Iraqi Kurdistan

Sources say French major signs deal for four oil blocks.

France’s Total has signed an agreement with the semi-autonomous Kurdistan Regional Government to develop four oil blocks, two of them previously allocated to foreign operators already active in the province, Kurdish sources said February 4.

The sources told Platts that two of the blocks were previously allocated to ShamAran Petroleum, a Canada-based independent with a focus on Kurdistan, and to Petoil, a Turkish company which has four exploration and production assets in the province.

The two other blocks are located in Khalikan, in the south central part of Kurdistan, the sources said.

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Perhaps this is cause for Westernzagros's (WZGRF, TSX:WZR) movement up by over 10% in the last few days!

Goombarh