December 25, 2010Iraq Says May Complete Akkas Agreement Within Days
Iraq may complete a delayed contract for the Akkas gas field within days, Iraq Oil Minister Abdul Kareem al-Luaibi told reporters in Cairo.
The oil ministry had planned to sign an agreement for the Akkas gas field on Nov. 14 with Korea Gas Corp., known as Kogas, and Kazakhstan’s state fuel producer, KazMunaiGaz National Co.
Iraq postponed the agreement for Akkas to “clear the misunderstanding” over the planned use of fuel from that deposit, al-Luaibi said in November.
Akkas is the largest of the three fields for which the government awarded licenses on Oct. 20. Kogas and KazMunaiGaz agreed to produce 400 million standard cubic feet of gas a day at Akkas at a price of $5.50 a barrel of oil equivalent produced.
http://www.bloomberg.com/news/2010-12-25/iraq-says-may-complete-akkas-agreement-within-days-update1-.html
