French major Total and US independent Marathon are both exiting upstream positions in Iraqi Kurdistan after deciding development of the limited resources they discovered was not worth their while, multiple sources tell International Oil Daily . Total, which has 80% operating stakes in the Baranan and Safen Blocks in the semiautonomous region, in addition to minority interests in Oil Search's Taza Block and Marathon's Harir Block, will probably pull out by the summer, although one source cautions the firm might not leave until the end of the year.
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